House Passes Trump's USMCA Trade Deal

  • 2019-12-19
  • Source: TTN
  • by: TTN Staff
House Passes Trump's USMCA Trade Deal
 
The House of Representatives has passed President Trump's key trade deal, the USMCA, exactly one day after voting to impeach the President.

According to CNBC:

The House passed a new North American trade deal on Thursday, ending a more than year long slog to iron out Democratic concerns about the agreement.
The chamber overwhelmingly approved the United States-Mexico-Canada Agreement, one of President Donald Trump’s economic and political priorities.

The trade pact heads to the Senate, which is expected to ratify it next year.

Most Republicans and Democrats have praised the latest version of the three-nation deal, which replaces the North American Free Trade Agreement. GOP lawmakers and key business groups said it will follow through on Trump’s promise to refresh NAFTA — though they have criticized concessions to the Democratic-held House on intellectual property standards.

Democrats cheered tools to boost enforcement of labor standards, saying they would deter companies from moving jobs to Mexico. Still, some lawmakers and unions have concerns the deal does not go far enough to protect American workers.

Both Canada and Mexico are the top two trading partners with the United States and a strong agreement with them makes negotiations with China easier.

 Source: TTN

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