The Business Roundtable showcased a study this week which shows that international trade supports almost 2.4 million jobs in Florida.
Noting that around one out of five jobs in the state is dependent on international trade, the Business Roundtable showcased it support for President Donald Trump’s efforts to replace North American Free Trade Agreement (NAFTA) with the United States-Mexico-Canada Agreement (USMCA).
“Trade with Canada and Mexico alone supports 750,400 jobs in Florida, highlighting the need to preserve and strengthen the North American trading relationship by passing the United States-Mexico-Canada Agreement (USMCA) this year. Exports from Florida to Canada and Mexico have increased by 195 percent since the implementation of the North American Free Trade Agreement (NAFTA),” the Business Roundtable noted when it released the study on Tuesday.
"The CEO members of Business Roundtable, who lead companies with more than 15 million employees, strongly support congressional passage of USMCA implementing legislation this year. We stand united to preserve and modernize North American trade, which supports over 12 million jobs and a strong U.S. economy," said Tom Linebarger, the chairman and CEO of Cummins Inc. and the chairman of the Business Roundtable Trade and International Committee.
The study from Trade Partnership Worldwide “found that trade-supported jobs in Florida increased by 84 percent from 1992 (when NAFTA was implemented) to 2017 – three times faster than total employment” with smaller companies often reaping the benefits.
“Florida exported $52.9 billion in goods and $43.3 billion in services in 2017, including greenhouse & nursery products, pesticides & fertilizers, ships & boats and travel services,” the study found. “Of Florida's 58,104 exporters, 95 percent are small- and medium-sized companies with less than 500 workers.”
In total, exports make up almost 10 percent of Florida’s GDP.
