Senate Passes USMCA Trade Agreement by Wide Margin
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The Senate on Wednesday passed the USMCA trade agreement, the Trump administration’s update of NAFTA, by a vote of 89-10.
The agreement will allow free trade between the U.S., Mexico and Canada among farmers and manufacturers, while updating certain rules in response to technological changes over the past several years. Under the new agreement auto manufacturers will have to comply with a stricter set of rules in order to avoid tariffs, including producing a certain amount of parts in the U.S., and farmers will be granted unrestricted access to the Canadian dairy market.
USMCA also sets guidelines for the free exchange of information and data between the North American countries.
The bill’s passage came on the heals of the signing of a phase-one trade deal between the U.S. and China, relaxing certain tariffs the countries had put in place in the midst of a trade war.
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