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01-29-20 | Legislation

Trump Signs USMCA Trade Deal

Bipartisan Law Will Replace NAFTA Once Canada Ratifies

The U.S.-Mexico-Canada Agreement will regulate the $1.2 trillion in trade conducted among the three countries annually.

The U.S.-Mexico-Canada Agreement was signed by President Trump on Wednesday, January 29 to finalize his efforts to end "the NAFTA nightmare." The new pact, which was endorsed by the AFL-CIO among other business groups, contains tougher rules on labor and automotive matters and, according to the president, will spur economic growth in this nation while benefitting farmers, workers and manufacturers.

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In the wake of the signing, Sonny Perdue, the U.S. Secretary of Agriculture issued a statement saying, "Today is a good day for American agriculture. Throughout this process, there were many detractors who said it couldn't be done. But this is further proof that President Trump's trade negotiation strategy is working. This agreement shows the rest of the world the United States is open for business. USMCA is critical for America's farmers and ranchers, who will now have even more market access to our neighbors to the north and the south. I am excited to see the economic benefits of this agreement increase the prosperity of all American, especially those living in rural America."

Canada must still ratify the agreement. The country's Prime Minister Justin Trudeau said that he is looking forward to "getting through it responsibly and rapidly because it's so important for Canadians."

Filed Under: LEGISLATION, USMCA, NAFTA, TRUMP

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