Union Pacific says millions of American jobs depend on trade occurring along the U.S.-Mexican border, and that fact needs to be considered during any discussion of changes to the North American Free Trade Agreement.
The railroad company is highlighting the impact of the agreement as an effort to promote trade across the border. Less trade between the U.S. and Mexico would undoubtedly impact Union Pacific’s profits.
The company points out that each year, NAFTA-related trade generates about 200,000 export-related jobs that pay about 15 to 20 percent better than the manufacturing jobs lost due to rising imports from Mexico, according to the International Trade Commission. In the agriculture sector alone, Mexico is America’s third-largest agricultural market, importing $18 billion of U.S. agricultural products.
Union Pacific points to comments by a Mexican trade economist who was also an architect of NAFTA, who says the deal “probably” needs renegotiated, to be “brought into the 21st century.”