The United States-Mexico-Canada Agreement (USMCA) will pass Congress as a deal on the final wording of the revised trade agreement has been reached by House leaders.
Speaker Nancy Pelosi made the announced on Tuesday, the same day has another announcement, obviously meant to allow news coverage to offer considerable less attention to this important trade deal than it would otherwise receive on any other news day.
President Trump achieved this win for the American economy a year ago, but Democrats held up an already popular trade agreement to obviously lessen it’s significance as a win for the Trump administration. Petty. This is a good deal that should have been approved a year ago.
From the Wall Street Journal–
In 2018, U.S. trade in goods with both Mexico and Canada approached U.S. exports and imports from China, the world’s second-biggest economy. Trade with Canada is balanced, with about $300 billion in goods going each way, while the U.S. has a trade deficit with Mexico, which sent $346 billion in cars, auto parts and other goods to the U.S., compared with $265 billion in farm products, auto parts and other goods going the other way, according to the U.S. Census Bureau.
Mr. Trump’s threats to pull the U.S. out of Nafta had threatened that trade and many supply chains, but the bipartisan agreement on USMCA, which will replace Nafta when ratified, will safeguard North American economic integration, trade experts say.
This is a bigly win for President Trump. As a candidate Barack Obama promised to to re-negotiate NAFTA, but failed to do so. Same for George W. Bush. As a candidate Donald Trump promised to re-negotiate NAFTA, and he did. Another campaign promise kept, which is a solid reason to re-elect the president in 2020.
.