COLUMBUS, Ind. — Cummins Chairman and CEO Tom Linebarger announced on Jan. 29, that the new U.S.-Mexico-Canada (USMCA) trade agreement is good for Cummins, plus American workers and farmers. Linebarger said the major agreement will establish a firm foundation for economic growth in all three countries.
Although President Trump signed the agreement on Jan. 29, Canada must still ratify the pact.
“USMCA modernizes and strengthens the NAFTA agreement, and will be beneficial to American businesses like Cummins, as well as American workers and farmers,” Linebarger said.
He observed that “NAFTA—now USMCA—has been the single most important trade agreement to Cummins, and has fueled growth and job creation for our company. We are pleased that an agreement has been reached.”
Cummins executives believe the trade agreement further opens markets and sets new standards that enhance trade, and strengthen labor and environmental standards. USMCA will enable Cummins to harness the full power of its North American supply chain, rather than having to do the same work in multiple countries, it was noted.
Cummins can take advantage of unique workforce skills in different North American locations to produce the most innovative and reliable products in the world. That should position the company to compete with imported products in North American markets, executives commented.
In 2018, Canada and Mexico were the top buyers of Cummins’ U.S. products. U.S. export sales for the company overall were $3.47 billion.
About Cummins, Inc.
Cummins, Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel and natural gas engines to hybrid and electric platforms, as well as related technologies, including battery systems, fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems.
Headquartered in Columbus, Ind. since its founding in 1919, Cummins employs approximately 62,600 people who are committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations, and over 7,600 dealer locations. Cummins earned about $2.1 billion on sales of $23.8 billion in 2018.
See how Cummins is powering a world that’s Always On by accessing https://www.cummins.com/always-on. Follow Cummins on Twitter at https://twitter.com/cummins and on YouTube at: https://www.youtube.com/user/CumminsInc