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MEXICO'S LEGISLATURE PASSES USMCA TRADE AGREEMENT
Jun. 20, 2019
AgWeb.com reports:
Mexico's Senate has voted to ratify the new trade agreement with the United States and Canada. That makes Mexico the first of the three countries to gain legislative approval. Mexico's Senate voted 114 to 4 in favor of the U.S.-Mexico-Canada Agreement.
"USMCA passes! Mexico goes first with clear signal that our economy is open," Jesús Seade, Mexico's undersecretary for foreign affairs, tweeted Wednesday.
According to CNBC, there has been little parliamentary opposition in Mexico to trying to safeguard market access to the U.S. and the deal was backed by nearly all the opposition lawmakers who voted.
Several Mexican Senators have expressed concern about President Donald Trump's unpredictability, but ultimately saw the deal as a way to provide economic stability to Mexicans, Politico reports.
The deal is still awaiting the approval of legislatures in the U.S. and Canada. This week U.S. Trade Representative Robert Lighthizer testified before Congress multiple times, and urged Congress to take up the deal. The ball is in House Speaker Nancy Pelosi's court. It's up to her to put the ratification vote on the House schedule.
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