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Metal Recycling News February 27, 2019 12:30:24 PM

U.S. Scrap Trade Body Demands Passage of USMCA Without Further Delay

Paul Ploumis
ScrapMonster Author
The ISRI will use its resources to press for smooth and early passage of USMCA.

U.S. Scrap Trade Body Demands Passage of USMCA Without Further Delay

SEATTLE (Scrap Monster): The Institute of Scrap Recycling Industries (ISRI) has called for finalization of the U.S. Mexico Canada Agreement (USMCA) - the new tri-nation trade deal that is supposed to replace the expired North American Free Trade Agreement (NAFTA). The U.S. trade body joined the USMCA Coalition headed by the Chamber of Commerce, which comprises of more than 200 business groups and companies. The ISRI will use its resources to press for smooth and early passage of USMCA.

According to ISRI, the passage of USMCA is expected to deliver certain enhancements to its members. The increased cooperation among customs officials of the three countries, as outlined by the USMCA, is likely to result in significant improvement in material movement across borders. The USMCA will lead to recognition of ISRI’s scrap specifications to be accepted as standard for scrap commodity trade within North America. Moreover, the obligations outlined in the new agreement will boost demand for scrap processed in North America, ISRI noted.

The ISRI press release noted that requirement for ratification of the agreement in all three legislatures makes the timing for ratification uncertain. The U.S. is yet to announce withdrawal of tariffs on steel and aluminum products from Canada and Mexico, without which both these countries are unlikely to ratify USMCA. As per sources, negotiations are still on.

Meantime, ISRI noted that it will work closely with other members of the Coalition in order to achieve early passage of the treaty.

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