For Immediate Release
August 16, 2018
HARRISBURG - Recognizing the strong economic ties that have long existed between Pennsylvania and Canada, today the PA Chamber of Business and Industry joined the Ontario Chamber of Commerce in calling for the renewal of the North American Free Trade Agreement in order to strengthen cross-border trade.
“There is no upside to an economic trade war, which threatens to undo all of the positive economic gains Pennsylvania has seen as a result of federal tax and regulatory reforms,” warned PA Chamber President Gene Barr. “The Commonwealth’s trade relationship with Canada is a critical component in advancing the state’s overall economy. In fact, in 2017, Pennsylvania ranked in the top ten states providing imports to Ontario. We are proud to stand with our counterparts in Ontario to encourage the renewal and modernization of NAFTA.”
Canada is the Commonwealth’s most significant trade partner. Data from the U.S. Chamber shows that an emerging trade war would threaten $1.2 billion worth in Pennsylvania exports to Canada. Additionally, more than 1 million Pennsylvania jobs that are supported by global trade are at risk.
“We must continue to build upon the critical relationship between Pennsylvania and Ontario, ensuring trade between our respective jurisdictions remains strong and without interruption,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “With $15.6 billion in bilateral trade at stake, a strong cross-border trade partnership and the renewal of NAFTA are critical for the economic growth and prosperity of both our economies.”
Founded in 1916, the Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association, with its membership comprising businesses of all sizes and across all industry sectors. The PA Chamber is The Statewide Voice of BusinessTM.