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AAFA CAUTIONS PRESIDENT AGAINST TERMINATING NAFTA PRIOR TO IMPLEMENTATION OF USMCA

PRESS RELEASE
By Press Club

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Business

(WASHINGTON, D.C.) – December 2, 2018 – Rick Helfenbein, president and CEO of the , cautions the Trump administration against terminating the North American Free Trade Agreement prior to the ratification and implementation of the new U.S.-Mexico-Canada Agreement, following reports that they will give a formal termination notice to Congress.

“Terminating NAFTA before USMCA is ratified will definitely create economic havoc and uncertainty for American companies who conduct business in the region,” said Helfenbein. “Following the successful trilateral signing of the USMCA agreement, this action undermines the trust that has been established since the conclusion of negotiations. We have continuously told the Administration throughout the USMCA process that it is essential for the new agreement to be implemented seamlessly, so that our businesses can learn the new rules and have time to adjust our supply chains to take advantage of the deal. Adding additional pressure on Congress to sign or fail is not in the best interest of America.”

About the American Apparel & Footwear Association

The American Apparel & Footwear Association (AAFA) is the national trade association representing apparel, footwear and other sewn products companies, and their suppliers, which compete in the global market. Representing more than 1,000 world famous name brands, we are the trusted public policy and political voice of the apparel and footwear industry, its management and shareholders, its nearly four million U.S. workers, and its contribution of more than $400 billion in annual U.S. retail sales. AAFA provides exclusive expertise in trade, brand protection, and supply chain & manufacturing to help our members navigate the complex regulatory environment and lower costs. Members gain unparalleled access to information and exclusive insights on regulation and policy, and premier opportunities for networking and collaboration.

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