The importance of USMCA for the Biden administration’s economic and foreign policy

In her confirmation hearing, U.S. Trade Representative Katherine Tai stated that “trade is like any other tool in our domestic or foreign policy. It is a means to create more hope and opportunity.” With this in mind, President Biden has made clear that trade must improve wages and create higher-paying jobs for all Americans as he focuses on controlling COVID-19, restoring economic growth and employment, and expanding opportunity by investing in education, R&D, and infrastructure. In this respect, there is no more important regional trade agreement for the U.S. than the United States-Mexico-Canada trade agreement (USMCA).