Sen. John Hoeven, R-N.D., says the USMCA trade deal is better than NAFTA since it enforces that America will be treated fairly.
Nearly one month after the House of Representatives passed the U.S.-Mexico-Canada Agreement, the Senate on Thursday also approved the legislation, moving the bill to President Trump’s desk to be signed into law.
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With the Senate’s approval, Canada is the only government left needing to ratify the new North American trade deal.
The legislation was advanced to the Senate floor earlier this month by the Senate Finance Committee with a 25-3 vote. Two Republicans and one Democrat opposed the bill.
“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 U.S. workers,” Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said in a statement at the time.
2020 DEMOCRATS DUKE IT OUT OVER USMCA
Five other committees — Commerce, Appropriations, Budget, Foreign Affairs, Environment and Public Works, and Health, Education, Labor and Pensions — also approved the deal this week with minimum opposition.
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USMCA is expected to create around 176,000 new jobs and inject $34 billion into the U.S. auto industry, Commerce Secretary Wilbur Ross told FOX Business’ Maria Bartiromo last month, citing International Trade Commission data. He added that as many as 589,000 new jobs could be created within five years.
