North American Steel Industry Hails Introduction of USMCA

The tri-party deal is considered to be a critical milestone for the North American steel industry, its hundreds of workers and numerous supply chains.

SEATTLE (Scrap Monster): The United States-Mexico-Canada Agreement (USMCA) - the trade pact in replacement of North American Free Trade Agreement (NAFTA) has come into full force with effect from July 1^st. The American Iron and Steel Institute (AISI) and the entire North American steel industry have applauded the critical milestone.

ALSO READ: ISRI Commends Canada's Ratification of USMCA

Kevin Dempsey, interim president and CEO, AISI noted that the treaty represents a significant achievement by the United States, Canada and Mexico that will benefit the North American steel industry and its customers throughout the region. It will promote increased cooperation among the three governments in addressing unfair trade practices. The important trade agreement will help to bolster steel demand throughout North American region, he added.

The tri-party deal is considered to be a critical milestone for the North American steel industry, its hundreds of workers and numerous supply chains. Furthermore, it is expected to boost the global competitiveness of North American steel producers, by improving upon the terms of the original NAFTA. Above all, the agreement looks to address various threats to the industry, including rising global steel excess capacity and weakening demand.

• Revalyu Resources Expands PET Recycling Operations in Nashik
• Topsham Scrap Metal Company Fined $42,000 After Alleged Clean Air Act Violation
• Alaska’s Top Court Reviews Permits for Donlin Gold Mine
• Michigan EGLE Awards $1 Million in Brownfield Funding for Redevelopment of Two Landfills