President Trump officially signed the United States-Mexico-Canada Trade Agreement into law Wednesday; formalizing the largest trade deal of all time that will cover more than $1.3 trillion in commerce between the three countries.
“The USMCA, which is the biggest trade deal of all-time, covers more than $1.3 trillion of commerce, and is the second major trade deal secured by the Trump administration this year. The agreement has already been ratified by Mexico, but not yet by Canada,” reports Fox News.
“The USMCA requires 75 percent of automobile components be manufactured in the United States, Canada or Mexico in order to avoid tariffs. By 2023, some 40 to 45 percent of automobile parts must be made by workers who earn at least $16 an hour,” adds Fox.
President @realDonaldTrump signs the USMCA trade deal between the US, Mexico, and Canada into law!pic.twitter.com/QdokPZCgmf
— Daily Caller (@DailyCaller) January 29, 2020
“This is a colossal victory for our farmers and ranchers,” Trump said at the signing ceremony. “Everybody said this was a deal that could not be done,” he added, “but we got it done.”
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GOODBYE NAFTA: New North American Trade Agreement Named ‘USMCA’
Negotiators from the United States and Canada announced a new North American trade agreement over the weekend; officially ending NAFTA and unveiling the United States-Mexico-Canada Agreement -better known as the USMCA.
Officials from both countries released a statement Sunday evening ahead of the self-imposed midnight deadline; saying the new free trade agreement will benefit “workers, farmers, ranchers, and businesses” on all sides of the border.
“USMCA will give our workers, farmers, ranchers, and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region,” the joint statement said. “It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home.”
Congratulations to Mexico and Canada!
— Donald J. Trump (@realDonaldTrump) October 1, 2018
The President weighed-in on the international trade deal Monday morning; saying “Congratulations to Mexico and Canada!”
CLIMATE CRAZY: Bernie Votes Against New Trade Deal, Says ‘Not a Single Damn Mention of Climate Change!’
Far-left Senator Bernie Sanders defended his vote against the new North American trade agreement on social media Friday; saying he opposed the new legislation because it failed to contain a “single damn mention of climate change.”
“250 pages. 37,500 words. Not a single damn mention of ‘climate change.’ Trump’s NAFTA is a giveaway to the fossil fuel industry. I voted NO because the future of our planet is more important than the short-term profits of Exxon Mobil and Chevron,” posted Sanders on social media.
250 pages.
37,500 words.
Not a single damn mention of “climate change.”
Trump’s NAFTA is a giveaway to the fossil fuel industry.
I voted NO because the future of our planet is more important than the short-term profits of Exxon Mobil and Chevron. pic.twitter.com/YgSZcigjjX
— Bernie Sanders (@SenSanders) January 17, 2020
Sanders defends vote against major trade deal: "Not a single damn mention" of climate change https://t.co/3eRmzTl2Ho pic.twitter.com/lpxIqSDekv
— The Hill (@thehill) January 17, 2020
Senate Minority Leader Chuck Schumer also cast his vote against the new North American trade agreement between the US, Mexico, and Canada this week; rebuking the deal because it failed to address the issue of “climate change.”
“Despite the improvements Democrats secured to better protect workers: I am voting against USMCA. Because it doesn’t address climate change, the greatest threat facing our planet,” posted Schumer on social media.
Despite the improvements Democrats secured to better protect workers:
I am voting against USMCA.
Because it doesn't address climate change, the greatest threat facing our planet. pic.twitter.com/WxyRpcH2pZ
— Chuck Schumer (@SenSchumer) January 16, 2020
The United States Senate voted Thursday to approve the President’s revised trade agreement with Canada and Mexico; clearing the path for a new North American international pact to replace NAFTA.
“The Senate overwhelmingly passed a bill to implement President Trump’s proposed update to the North American Free Trade Agreement (NAFTA) after a mad dash to clear the measure before impeachment proceedings paralyze the chamber,” reports The Hill. “Senators voted 89-10 to pass a bill ratifying Trump’s U.S.-Mexico-Canada Agreement (USMCA), sending the measure to the president for his final sign-off. USMCA’s passage marks another milestone for Trump just one day after he cemented a preliminary trade deal with China.”
JUST IN: Senate overwhelmingly passes Trump's updated trade deal with Canada and Mexico https://t.co/TH0vQZtlO1 pic.twitter.com/ypYnwEytBf
— The Hill (@thehill) January 16, 2020
“Today the Senate will send this landmark agreement to the president’s desk,” said Majority Leader Mitch McConnell. “Quite a week of substantive accomplishments for the nation, for the president, and for international trade.”
Read the full report here.
Source: The Hill
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