POST Online Media Lite Edition


Mexico to send USMCA trade deal to Senate

Christian Fernsby |
Mexican President Andres Manuel Lopez Obrador said he will send the Senate the proposed trade agreement between his country, the United States and Canada.

Article continues below

Topics: MEXICO    USMCA    TRADE   

Earlier this week, Lopez Obrador announced the Senate informally agreed to terms of the United States-Mexico-Canada Agreement (USMCA), which would replace the North American Free Trade Agreement (NAFTA).

“We consider this a good agreement for our nations,” he said Monday. “It’s very convenient for the people of the United States, the people of Canada and the people of Mexico.”

NAFTA eliminated trade barriers between the three nations. Mexico relies heavily on the trade agreement. In 2017, about 80% of the country’s exports went to the U.S.

Mexico is the first country to agree to all of the USMCA’s terms. The Mexican government is expected to quickly ratify the trade deal.

Lopez Obrador has “respectfully,” asked U.S. House of Representatives Speaker Nancy Pelosi to advance the agreement through the chamber.

The deal still needs the approval of the U.S. Congress before it can be finalized.

What to read next

U.S. reaches deal with Canada, Mexico to remove steel, aluminum tariffs
EU and Mexico reach new agreement, all trade will be duty-free
Mexico’s parliament passes trade deal with US and Canada