Following US Congress’s passage of the United States-Mexico-Canada Agreement (USMCA), Chubb has issued a statement announcing the insurer’s full support for the legislation.
The USMCA is meant to preserve and improve the trading relationships of the three North American countries, ensuring the free flow of both goods and services in the region.
According to Chubb, the agreement includes a number of provisions that are vital to the financial services industry – particularly the parts that discuss protections for the free flow of data. The insurer believes that this provision provides the industry with “greater certainty” as it transitions to a digital economy.
Chubb also mentioned that the agreement offers important intellectual property and fair competition protections that will spur investment and job creation across North America.
“While there is always room for improvement in trade agreements, we applaud the substantial enhancements to free trade included in USMCA,” the company said in its statement. “Chubb appreciates the long effort and commitment of the Administration, Congress and the Mexican and Canadian governments to reach this agreement.”
