WASHINGTON - Nancy McLernon, president and CEO of the Organization for International Investment (OFII), issued the following statement announcing support for the United States-Mexico-Canada Agreement (USMCA):
“Representing a sector of the economy that employs more than seven million Americans in jobs that pay 26 percent higher compensation than the U.S. average, I am pleased to announce OFII’s support for the USMCA. This agreement will not only expand opportunities for U.S. exporters, it will signal to other nations that the United States is serious about strengthening cross-border trading relationships. Trade agreements are a critical part of America’s economic competitiveness for FDI. USMCA should allow international companies that have elected to invest and create jobs in the United States to maintain critical trade and supply chain connections. To that end, I encourage the administration to provide important guidance to major U.S. employers as they work to implement the agreement’s standards.”
International companies operating in the United States are a good measure of U.S. competitiveness as they invest and create jobs for U.S. workers. International companies employ 20 percent of America’s manufacturing workforce. In fact, 62 percent of the U.S. manufacturing jobs created in the past five years came from international companies. These employers help diversify America’s economy and open new markets.
Representing the U.S. operations of many of the world's leading international companies, OFII ensures that policymakers at the federal, state and local level understand the critical role that foreign direct investment (FDI) plays in America’s economy. OFII advocates for fair, non-discriminatory treatment of foreign-based companies and promotes policies that will encourage them to establish U.S. operations, which in turn increases American employment and U.S. economic growth. For more information, please visit www.OFII.org.