On December 12, BAFT and its members across North America welcome agreement on the USMCA and support its swift passage and implementation.
WASHINGTON — BAFT, the leading global trade association for transaction banking, today announced its support of the bipartisan proposal to move forward on the United States-Mexico-Canada Agreement (USMCA). BAFT President and CEO Tod Burwell issued the following statement:
“BAFT and its members across North America welcome agreement on the USMCA and support its swift passage and implementation. International trade remains an important engine of economic growth, and banks play a vital role in supporting cross-border commerce. Implementation of USMCA will bring greater certainty to importers and exporters of all sizes throughout North America, which will facilitate their ability to invest for future growth and provide goods and services more efficiently. In addition to market access and most favored nation provisions, USMCA’s Financial Services chapter contains vital updates that are important to our members engaged in cross-border trade in services, including provisions that guarantee the free flow of data and prohibition of forced data localization.”