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U.S. Senate panel passes new North American trade deal

Christian Fernsby |
The Senate Finance Committee approved a new North American trade deal yesterday, moving it one step closer to ratification in the United States.

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Topics: U.S.    SENATE    AMERICA    TRADE   

In a 25-3 vote, the panel sent the United States-Mexico-Canada Agreement to the full Senate, which could pass the pact this month. The House approved the accord last month in a bipartisan vote.

USMCA backers, led by President Donald Trump, have called the deal a long-needed overhaul of the 1994 North American Free Trade Agreement. The new pact makes several changes to protect auto industry workers, increases access to Canadian dairy markets for U.S. farmers and updates digital trade rules.

“USMCA will bring much needed certainty and real benefits to America’s farmers, workers and businesses,” Finance Committee Chairman Sen. Chuck Grassley, R-Iowa, said Tuesday at the start of the bill markup.

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