USMCA Refreshed, Ready for Ratification by the US
Senior officials from the US, Mexico and Canada have signed off on an updated version of the aging NAFTA trade agreement, sending the revamped USMCA towards the final stages of ratification by the US. For the event, senior officials from the US and Canada flew down to Mexico City on Tuesday.
The signing of the updated USMCA was attended by Mexican President Adres Manuel Lopez Obrador, Canadian Deputy PM Chrystia Freeland, US Trade Representative Robert Lihgthizer and Senior Adviser to the White House, Jared Kushner. Previously, the deal had faced stiff opposition from House Democrats over key issues concerning enforcement of labor and environmental laws.
The refreshed deal has got a vote of approval from US House Speaker Nancy Pelosi who remarked, “It is infinitely better than what was initially proposed by the administration”. As a next step, the deal will be put to vote by the US Congress and once approved, will be ratified.
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