This afternoon, the Senate voted in favor of the United States-Mexico-Canada Agreement (USMCA) by a margin of 89 to 10. With its passing in both the House and the Senate, the measure will now be sent to President Trump who is expected to sign it next week. This marks the President’s second trade win in as many days after signing the “Phase One” trade agreement with China on Wednesday.
As you may recall, the USMCA is set to modernize the old NAFTA agreement and, according to the Office of the U.S. Trade Representative (USTR), will “support mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America.”