USMCA is Moving Forward to Replace NAFTA

According to CNBC, there is a major announcement about the USMCA on December 10, 2019. The White House and Democrats have come together after a year of negotiations to finalize the USMCA trade agreement between the United States, Mexico, and Canda. Mexico has already passed it and Canada said they will as soon as the U.S. does.

Per the International Trade Commission, the USMCA will add more than $68 billion to our economy and create another 176,000 American jobs. That includes nearly 50,000 good manufacturing jobs.

Labor unions pushed for tougher labor standards. Earlier Tuesday, the AFL-CIO — a massive federation of unions — announced it would back the agreement. AFL-CIO President Richard Trumka said “the USMCA is far from perfect,” but “there is no denying that the trade rules will now be fairer because of our hard work and perseverance.”

In a statement, Lighthizer — the lead Trump administration negotiator — said the sides “reached an historic agreement on the USMCA” that “will benefit American workers, farmers, and ranchers for years to come.” He added that it “will be the model for American trade deals going forward.”

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