In recent trade, we have had a number of headlines roll through with respect to the US-Mexico-Canada Agreement (USMCA) whereby Mexican, Canadian and US official have met to sign the revision on the trade deal.
The news follows US Democrats in Congress reaching a deal with the White House over a new North American trade agreement, setting the stage for approval. House Speaker Nancy Pelosi declared it “infinitely better” than the deal the White House reached with Mexico and Canada last year. US President Donald Trump has also declared victory. The pact will be “the best and most important trade deal ever made by the USA. Good for everybody – Farmers, Manufacturers, Energy, Unions – tremendous support,” Trump tweeted.
However…
In the latest headlines, the US Senate Majority Leader Mitch McConnell says that the USMCA will not be taken up or passed before year-end, and instead, Trump’s impeachment trial will come first, he says. This was announced just moments after the agreement addendum is signed in Mexico City.
Edward Lawrence, Correspondent for Fox Business has just tweeted,
“Several House Members tell me that a vote on USMCA ratification in the US will happen next week. Mexico will have to re-ratify. Canada has to start their ratification process over again.”
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