A new focus on international trade
Keep up with latest news about trade in Oregon
The Pacific Northwest International Trade Association (PNITA) works to create economic opportunities for Oregon companies, workers and farmers through education, advocacy, and promotion on international trade.
With a generous sponsorship by Bank of America, PNITA and the Portland Business Alliance released the Oregon’s State of Trade report in June. The report found that more than half a million Oregon jobs are supported by Oregon’s trade activity – that’s 1 in 5 Oregon jobs!
In addition to continuing to delivering valuable research on trade, PNITA closely tracks policy and regulatory issues that impact Oregon’s trade environment. Here’s what we’re tracking at the moment:
- The US-Mexico-Canada Agreement (USMCA):
- US Trade Representative (USTR) Lighthizer is working with the Pelosi appointed USMCA Working Group to hammer out final tweaks to the North American Free Trade Agreement (NAFTA) 2.0 agreement. Of the nine-person group, two are from Oregon, Reps. Bonamici and Blumenauer, signaling the importance of the Oregon delegation in this national policy.
- Issues the representatives hope to address include strengthening of what are seen as weak enforcement from provisions to ensure all member states adhere to labor and environmental standards. The environmental standards themselves are an issue of concern and are seen as not going far enough, though admittedly, they are more stringent than in the original NAFTA. The language of the agreement provides 10 years of protection for biologics exclusivity is viewed as anti-competitive and inhibiting access to life-saving drugs to patients.
- The Working Group and USTR appear to be working effectively to find a compromise that can maximize the chances of the USMCA passing when the agreement comes before Congress for ratification. Though the administration is pushing hard for this to happen in August – before Congress leaves for recess – however, the house speaker has warned against this, saying instead that the working group should be allowed time to negotiate these amendments with USTR Lighthizer to ensure a positive outcome.
- The Portland Business Alliance and PNITA are both part of the national USMCA Coalition advocating for ratification of the agreement. On June 10, coalition members participated in a national day of action and advocacy, which resulted in more than 7,000 people and organizations issuing 12,500 tweets using the #USMCAnow hashtag, with a social media “reach” of 450 million.
- In Oregon alone, roughly 95,000 jobs are supported by trade with Canada, and about 59,000 jobs are supported by with Mexico.
- Impact of tariffs
- Markets are anxiously awaiting second quarter reports from companies later this month to assess the impact of the tariff-tiff the United States has engaged in with China. Among the companies, Bloomberg Business considers Intel and Boeing to be bellwethers, both having significant operations and employees in Oregon. (See chart below.)
We have new ways to for you to stay up-to-date on issues impacting Oregon trade! Follow PNITA on Twitter at @TradeinOR and on our LinkedIn Company Page. If you want to get involved or become a member of PNITA, you can visit www.portlandalliance.com/pnita or contact executive director, Maria Ellis, at [email protected].