Congress is gearing up for a vote on the U.S.-Mexico-Canada Agreement (USMCA) – a trade decision that will impact Florida’s economy and affect the state’s manufacturers and farmers.
On a national scale, Canada and Mexico are by far the two largest U.S. export markets. In 2018, trade with the two countries reached nearly $1.4 trillion. Currently, trade with our North American neighbors supports 12 million American jobs across the country.
But for Florida, the stakes are especially high – in fact, 13.6% of Florida’s GDP depends on trade, according to the American Enterprise Institute. Additionally, trade with Canada and Mexico supports 750,400 jobs in Florida.
The Sunshine State has been a gateway for the U.S. and its international trade for years now. There were $162 billion worth of goods in 2012 that entered or exited the U.S. through Florida’s two U.S. Customs Districts, and this value has grown by 135% over the past decade, according to Enterprise Florida, a public-private partnership between Florida’s business and government leaders.
The Florida Chamber of Commerce reported data indicating that Canada stands as one of Florida’s top global partners in origin exports, services exports, state imports, visitors, and even investment. Mexico is also one of Florida’s top global partners for origin exports, services exports, and state imports.
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