August 27,2018

Press Contact:

Katie Niederee and Nicole Hager, 202-224-4515

Hatch Statement on U.S.-Mexico NAFTA Deal

Finance Chairman Applauds Important Step, Emphasizes Need to Include Canada and Protect IP Rights

WASHINGTON – Senate Finance Committee Chairman Orrin Hatch (R-Utah) today released a statement following the United States Trade Representative’s (USTR) announcement that the United States and Mexico have reached a bilateral agreement on the North American Free Trade Agreement (NAFTA):

“Today’s announcement by the United States and Mexico is an important step toward modernizing NAFTA, the largest free trade zone in the world. Preserving and improving NAFTA will ensure that American families will continue to benefit from lower prices, better jobs and increased productivity, while also ensuring that the 25-year-old agreement maintains the leadership of American businesses, manufacturers, farmers and ranchers. To achieve that goal, a final agreement should include Canada. Further, to meet Trade Promotion Authority (TPA) and gain Congress’ support, a modernized NAFTA must establish strong rules to protect intellectual property rights to benefit America’s innovators, artists and creators. I look forward to reviewing the details of today’s announcement and continuing to work with USTR to resolve these issues so that a revamped NAFTA can pass Congress and become law.”

Background: NAFTA eliminated most tariffs on products traded between the United States, Canada and Mexico between 1994 and 2008. The free trade zone links 487 million people and totals $21.4 trillion in gross domestic product (GDP).