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.
— 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.”
Read the full report here.