Wyoming Secretary of State Edward Buchanan says a new trade agreement between the U.S., Mexico and Canada will benefit Wyoming.

The United States-Mexico-Canada Agreement (USMCA) trade deal “has high standards and rebalances North American trade to provide a stronger market for Wyoming’s and our nation’s goods,” Buchanan said Wednesday, as the deal officially took effect and replaced the North American Fair Trade Agreement (NAFTA).

“This is a great day for our country, as businesses will better be able to participate in cross-border trade,” Buchanan said. “USMCA ensures fair business practices by our neighbors and now the advantage will be back in the hands of the American worker.”

He made the comments in a joint statement with fellow Republican secretaries of state from Alabama, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Ohio and Texas. They said the USMCA will have a positive impact “on entrepreneurs across the country,” saying the deal “will result in freer markets, fairer trade, and strong economic growth across North America, creating new opportunities for American workers, farmers, ranchers, and business owners.”

The Small Business Administration says the deal will bring: enhanced digital trade and e-commerce; increased customs transactions and clearance; expansion of United States food and agriculture exports and support for food processing jobs; more access to ag markets in Mexico and Canada; incentivized investments for manufacturing and more.