On January 16th, the U.S. Senate overwhelmingly approved legislation to overhaul the 25-year-old trade pact among the U.S., Canada, and Mexico.
The deal, more commonly known as USMCA, passed by 89-10, now goes to the President’s desk for signature after which the bill will be passed to Canada for their approval.
The Senate’s passage of USMCA comes after months of negotiation between the House of Representatives and the Trump organization where just last month, the White House signed off on the final version of the trade deal.
The deal includes provisions tightening the production and selling of automobiles, improving access to markets for farmers, increasing labor rights for Mexican workers, and establishing intellectual property protections.
For detailed Fact Sheets regarding Modernization, Manufacturing, Agriculture, Dairy Market Access, SMEs, and State-level impact, visit https://www.trade.gov/usmca/
WHITE HOUSE SIGNS OFF ON U.S.-MEXICO-CANADA AGREEMENT (USMCA)
The agreement was approved in the Senate one day after President Trump signed a long awaited “Phase One” trade deal with Chinese Premier Liu He.
Canada’s Prime Minister, Justin Trudeau, will be the last party to ratify the revised North American Trade Deal.
As Green continues to monitor the situation, stay up-to-date on freight news by following us on Facebook, Twitter, and LinkedIn. For continuous updates, make sure to check out our website at greenworldwide.com.
