Senator Cornyn

Cornyn Statement on President’s Signing of US-Mexico-Canada Trade Deal

January 29, 2020

WASHINGTON– U.S. Senator John Cornyn (R-TX) released the following statement after President Trump signed the U.S.-Mexico-Canada Trade Agreement (USMCA), which would modernize and strengthen the North American Free Trade Agreement (NAFTA):

“Since this process began, I’ve worked to ensure any trade agreement protects the millions of Texans whose jobs depend on trade with our neighbors and reduces barriers for farmers, ranchers, producers, and manufacturers.”

“The USMCA will bring our trade relationships with Mexico and Canada into the 21st century, and Texas will see serious benefits. From funding needed infrastructure to improving quality of life in border communities, this agreement is a win for the Lone Star State.”

“I’m grateful to the President for his work to provide economic certainty and greater opportunity for America, and I look forward to seeing Texas’ already thriving economy become even stronger.”

This trade agreement includes Sen. Cornyn’s provision to bolster the North American Development Bank (NADBank), which was created jointly by the United States and Mexico in 1993 to preserve and enhance environmental conditions and the quality of life for communities along the U.S.-Mexico border. Since that time, NADBank has helped finance 63 Texas projects with a combined value of more than $1.7 billion.

Earlier this year, Sen. Cornyn introduced the bipartisan North American Development Bank Improvement Act of 2019 to authorize the Treasury Department to increase its capital and provide additional authority to fund projects related to limited natural gas and land port of entry infrastructure.

Senator Cornyn is the Chairman of the U.S. Senate Finance Committee’s Subcommittee on International Trade, Customs, and Global Competitiveness.