Trade organization warns USMCA exit could jeopardize millions of US jobs

Core Insights - The Business Roundtable warns that withdrawing from the USMCA could disrupt North American supply chains and jeopardize millions of U.S. jobs, despite the Trump administration's dissatisfaction with the trade agreement [1] Group 1: Economic Impact - U.S. trade with Canada and Mexico supported 1.2 million jobs in Texas in 2023, with Texas exporting $168 billion in goods and services to these countries in 2024 [2] - California's trade with Canada and Mexico supported 1.7 million jobs in 2023, with the state exporting $76 billion in goods and services in 2024 [4] - Since 2015, Texas goods exports to Canada and Mexico have increased by 35%, while services exports have risen by 38% [2] Group 2: Trade Dynamics - Approximately two-thirds of Texas' imports from Canada and Mexico are used as intermediate inputs for U.S. production, while about half of California's imports serve a similar purpose [5] - Integrated production networks, where goods cross borders multiple times before completion, are more efficient than separate bilateral trade deals [6][7] Group 3: Advocacy for USMCA - The Business Roundtable emphasizes the need for timely extension of the USMCA to ensure the vitality of U.S. businesses and calls for stronger North American integration and enhanced cooperation on economic security [2] - Canada and Mexico have invested $775 billion in the U.S. since the USMCA came into effect, contributing to a 50% increase in overall North American trade [6]