U.S. Senate approves USMCA trade dealChristian Fernsby ▼ | January 17, 2020
The U.S. Senate overwhelmingly passed with bi-partisan support a new North American trade deal.
American businesses Senate Majority leader Mitch McConnell
Topics: U.S. Senate USMCA
The deal was passed by the House Of Representatives last month by a 385-41 vote after some changes that the Democrats proposed were accepted by the Trump administration.
Democrats claimed changes to the agreement will bolster America's economy, support workers, protect the environment, and improve access to affordable prescription drugs. The U.S. ratification of the tri-lateral agreement will be complete after Trump signs it.
The White House said the new deal will replace "the job-killing, huge failure NAFTA fulfilling a core promise the President made to the American people". USMCA, which the President successfully negotiated over a year ago, rebalances trade between the three countries and will lead to significant economic and job growth in the United States, the Press Secretary said in a statement.
Senate Majority leader Mitch McConnell said he is grateful to the President for prioritizing this deal and delivering on his major promise. "It's a big win for Kentucky and for American families in all 50 states," he said on Twitter.
"It is the first agreement with strong, enforceable disciplines against unfair, market distorting subsidies and currency manipulation", according to United States Trade Representative Robert Lighthizer. ■