USMCA Developed to Bolster North American Export Services, with Freight Technologies Inc. (NASDAQ: FRGT) to Capitalize on It
- Export services under NAFTA, mainly covering transportation, travel, business, and financial services, increased from $14.7 billion in 1999 to $30.4 billion in 2021
- With the transition from NAFTA to USMCA, trade in goods and services is set to see a spike from 2022 going forward, and Fr8Tech expects to capitalize on this
- Freight Technologies Inc., with its superior freight platform for North American cross-border shipping, yielded a 45% YOY revenue growth for Q2 2022, which it looks to surpass in the subsequent quarters of the current financial year
- With trucks moving about 70% of North American surface trade by value, trucking companies, Fr8Tech included, are set to be the biggest beneficiaries with the USMCA, enjoying benefits such as reduced administrative burdens and faster shipping times
- The USMCA’s objective is to support a mutually beneficial trade that seeks to achieve more accessible markets, fairer trade, and economic growth in North America. Fr8Tech looks to capitalize on opportunities that present themselves to not only create shareholder value but also grow its brand equity and realize its short-term and long-term objectives
According to the United States Census Bureau, the export of services under the North American Free Trade Agreement (“NAFTA”), mainly covering transportation, travel, business, and financial services, increased from $14.7 billion in 1999 to $30.4 billion in 2021. The same applies to the trade of services between the U.S. and Canada. With the transition from NAFTA to the United States-Mexico-Canada Agreement (“USMCA”), it is projected that trade in goods and services in the region will not be altered. The study projects that operations in this sector will soar as trade among the three countries grows (https://ibn.fm/2BEFI).
Freight Technologies (NASDAQ: FRGT) (“Fr8Tech”), an enterprise developing solutions to optimize and automate the supply chain process and offering a platform for B2B cross-border shipping in the NAFTA (now USCMA) region looks to capitalize not just on the smooth transition, but also the…
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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