US House of Representatives ratifies USMCA trade pact

WASHINGTON, The US House of Representatives approved Thursday President Donald Trump’s new US-Mexico-Canada (USMCA) trade agreement which will replace the 1994 North American Free Trade Agreement (NAFTA).

The House passed the deal bill with an overwhelming majority of 385 to 41 votes.

It will now heads for the Senate which is expected to pass it shortly.

Trump described NAFTA as “our Country’s worst Trade Deal,” and campaigned in 2016 on renegotiating the pact. In November 2018, he signed USMCA deal with his Canadian and Mexican counterparts.

Compared to NAFTA, USMCA increases environmental and labor regulations, and incentivizes more domestic production of cars and trucks.

It also provides updated intellectual property protections, gives the United States more access to Canada’s dairy market, imposes a quota for Canadian and Mexican automotive production, and increases the duty free limit for Canadians who buy US goods online from USD20 to USD 150.

Source: Kuwait News Agency