Canada ratified the United States-Mexico-Canada Agreement (USMCA) Friday, paving the way for tri-nation deal’s implementation in the country’s Senate.
The USMCA was ratified by Mexico in 2019, followed by the US in January.
Noting that the trade deal was a big win for the American recycling industry, Robin Weiner, president of Institute of Scrap Recycling Industries (ISRI), said USMCA would support “robust North American scrap trade.”
The agreement includes indirect recognition of ISRI specifications, enhanced auto rules that can bolster demand for scrap, faster custom clearances, and tariff-free access in Mexico. Together these aspects could grow US scrap imports and exports in North America beyond their current estimated value of $7.7bn.
According to Wiener, the agreement will also support 130,000 jobs in a multitude of industries that depend on strong trade ties between the three countries for scrap commodities.