USMCA moves one step closer with Senate passing

By Aidan Fortune contact

- Last updated on GMT

USMCA moves one step closer with Senate passing

Related tags: Us, Mexico, Canada, USMCA

The passing of the US, Mexico and Canada (USMCA) trade deal by the US Senate Committee on Finance has moved it one step closer to completion.

Passed by a 25 to 3 majority, USMCA now will have to be passed by other Senate Committees before being implemented.

The Senate of Mexico has already ratified and passed the agreement while in Canada, the dissolution of parliament in September means it will have to be re-introduced.

Senate Finance Committee Chairman Chuck Grassley explained the benefit of the USMCA deal. “President Trump ran on updating the former North American trade deal. Soon, the entire country will benefit as a result,”​ he said. “I commend President Trump, Ambassador Lighthizer and my colleagues in Congress for their hard work in getting to this point. This modernized trilateral trade agreement will open new markets for American exporters, create hundreds of thousands of new jobs, grow the national economy and protect US workers. I expect the full Senate will act soon and that final approval of USMCA is just around the corner. That is good news for millions of farmers, manufacturers and workers in every corner of America.”

National Pork Producers Council president David Herring welcomed the progress. “We thank Senate Finance Committee Chairman Chuck Grassley for making USMCA passage a top priority and we thank those members of the committee who support this important trade deal. USMCA will allow the US pork industry to maintain long-term, zero-duty market access to two of our largest export markets.

“We now urge Senate Majority Leader Mitch McConnell to schedule a vote on the floor as soon as possible,”​ he added.

In December, the three nations agreed to progress with the trade deal​ following some amendments.

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