The American Petroleum Institute (API) issued the following statement after House Democrats announced a deal with the Trump administration to finalize the U.S.-Mexico-Canada Agreement (USMCA), clearing the way for congressional approval of the revised trade pact.
“We applaud the bipartisan consensus reached on USMCA,” said API President and CEO Mike Sommers. “Canada and Mexico are our top energy partners, and maintaining the tariff-free flow of natural gas, oil and refined products will help ensure that American families have continued access to affordable and reliable energy, strengthen U.S. energy leadership and grow the economy. This isn’t just about the potential impact to the U.S. energy industry—but also to small businesses, manufacturers and U.S. jobs. We urge Congress to take up and pass this bipartisan agreement.”
API joined more than 200 companies and associations covering a wide range of industries in the USMCA Coalition, which has been working to secure the agreement’s approval in Congress. The coalition’s broad membership helps illustrate the wide, positive impact of free trade across the U.S. economy.
Read more information on the importance of USMCA for U.S. economic growth and energy security here and here.
API is the only national trade association representing all facets of the natural gas and oil industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 47 million Americans. API was formed in 1919 as a standards-setting organization. In its first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.