BANNOCKBURN, IL — IPC today signaled its approval of the US House’s vote to ratify the new trade agreement among the US, Mexico and Canada. In a press release from its chief executive, the trade group advocated for the Senate to do the same.
In a statement, John Mitchell, president and CEO, IPC, said, “The electronics manufacturing industry is pleased the US House approved the US-Mexico-Canada Agreement (USMCA) with broad bipartisan support. Now we call on Senate Majority Leader Mitch McConnell (R-KY) to bring the legislation to a successful vote in the Senate as soon as possible.
“With electronics exports making up over 30% of US exports of manufactured goods, natural resources and energy exports to Mexico and nearly 20% of such exports to Canada, USMCA will pave the way to continued prosperity for electronics manufacturers, US workers and consumers.
“An approved agreement will also accelerate IPC’s efforts to launch new initiatives in Mexico and bolster the industry’s confidence in making investments in human resources and equipment in all three nations.”
In May, IPC released a study that found the total value of US electronics trade with Canada and Mexico was $155.5 billion in 2017, with trade in electronic systems and components being especially important to the North American automobile industry. Mexico imports 34% of US PCB production – larger than the next four largest markets combined, says IPC.