Later today, President Trump will sign the house and senate approved USMCA bill. The replacement for the 25-year old trade agreement NAFTA won’t immediately take effect as Canada remains the only country that has not yet approved the USMCA (expected to do so in a few weeks). Give me a call/text if you have questions how the USMCA will impact you or your business – 832-896-6288 or send me an email at email@example.com, firstname.lastname@example.org.
As you are aware, the Senate passed the USMCA legislation last week. According to Reuters, President Trump will sign the USMCA trade agreement next Wednesday at the White House. The Reuters article cites unnamed sources regarding invitations for the upcoming ceremony.
This new US Mexico Canada Agreement (USMCA) wills replace NAFTA and still requires formal approval from Canada.
After passing through the House, the Senate just passed the USMCA trade deal by 89-10 vote. The new trade deal will now head to Trump’s desk for his signature.
Contact experienced trade attorney David Hsu if you have any questions on how the new trade deal will impact your business, phone/text 832-896-6288 or email email@example.com, firstname.lastname@example.org.
This past Wednesday, the Trump administration warned the impeachment inquiry would likely result in no congressional action on the United States-Mexico-Canada trade deal (USMCA).
While the US Trade Representative Robert Lighthizer believed the deal would pass the House, Trump was less confident and doesn’t believe the Houston majority leader will set a vote to pass the trade agreement.
Last year, Canada, the US and Mexico reached an agreement to replace the North American Free Trade Agreement with the final step being ratification among the three members. Canada and Mexico have already urged the US to ratify the agreement sooner rather than later.
If you have any questions how the new USMCA may impact your business, contact experienced trade attorney David Hsu at 832-896-6288 or by email at email@example.com, firstname.lastname@example.org.
According to Reuters, Mexican tomato growers and the Trump administration reached a deal to end a potential anti-dumping investigation and end a tariff dispute. The agreement means many Mexican tomato exports will be subject to U.S. border inspections, and specialty tomatoes face higher reference prices on the American marketplace.
The negotiations began back in May when the Trump administration imposed a 17.5% tariff on Mexican tomatoes after the parties did not reach an agreement.
The Commerce Department said the new deal will ensure sales do not fall below certain prices for Mexican tomatoes and allows a mechanism to audit up to 80 Mexican tomato producers per quarter, or more.
A group of 14 House Democrats sent a letter to House Speaker Nancy Pelosi asking her to to bring a vote by the end of the year on USMCA, the renegotiated trade with Canada and Mexico to replace NAFTA.
The letter to Speaker Pelosi reads:
“It is imperative that we reach a negotiated agreement early in the fall. Canada and Mexico are by far our most important trading partners, and we need to restore certainty in these critical relationships that support millions of American jobs.”
The 14 House Democrats:
Colin Allred (D-Texas)
Scott Peters (D-Calif.)
Kendra Horn (D-Okla.)
Haley Stevens (D-Mich.)
Anthony Brindisi (D-NY)
Joe Cunningham (D-SC)
Lizzie Fletcher (D-Texas)
Ben McAdams (D-UT)
Josh Harder (D-Calif.)
J. Luis Correa (D-Calif.)
Sharice L. Davids (D-Kansas)
TJ Cox (D-Calif.)
Susie Lee (D-Nevada)
Greg Stanton (D-Arizona)
According to the Associated Press, President Donald Trump had a rally in Wisconsin to promote his trade deal with Mexico and Canada, known as the United States-Mexico-Canada Agreement (USMCA). Trump was the first Republican to win Wisconsin since Ronald Reagan in 1984 and recent polling indicates Wisconsin is another battleground state in 2020.
Wisonsin exports $31 million worth of goods to Canada and $15.2 million worth of goods to Mexico; importing $15.5 million in goods from Canada and $9.3 million in goods from Mexico.
The USMCA will likely be ratified in Mexico and Canada, but Congress has not yet supported ratification. Democrat Congress members want strong labor and environmental protections. The AP article said a vote was likely to be held in September at the earliest.
If you have any questions how the new USMCA will impact your business, contact experienced trade attorney David Hsu at 832-896-6288 or by email at email@example.com, firstname.lastname@example.org.
This past Wednesday, Mexico became the first country to pass the new U.S.-Mexico-Canada Agreement (USCMA) to replace NAFTA. NAFTA was a free trade agreement also entered between the three countries over 25 years ago. As Mexico sends 80% of exports to the US, the passage of the trade agreement is a necessity for Mexico.
Canada’s Prime Minister Justin Trudeau is trying to get the deal through the Canadian Parliament while in the United States, House Speaker has not yet put the passage of the USMCA up for vote. The House Speaker and her Democrat allies hold a majority in the House and are requiring stronger enforcement mechanisms for the provisions related to labor and environmental rules.
This past Friday, several commissions in Mexico’s Senate passed a draft law that would ratify the new trade deal with the United States and Canada – the USMCA.
The law creating the United States-Mexico-Canada Agreement, or USMCA, is set for a vote with the entire Senate this upcoming Tuesday.
The Senate leader of the Morena Party, Ricard Monreal said the trade deal will be signed and ratified this month.
Trump is currently waiting for the Democrat-led House to review the deal.
Last week, President Trump lifted steel tariffs on Canada and Mexico to improve the chances of Congress approving a renegotiated North American Free Trade Agreement (NAFTA).
President Trump withdrew tariffs of 25% and 10% duties steel and aluminum from Canada and Mexico imposed a year ago. In return, Canada and Mexico said they would lift retaliatory duties on many American goods, including farm products. In addition to withdrawing the steel and aluminum tariffs, Trump also postponed the imposition of new tariffs on imported automobiles and automobile parts.
With a Democrat-led Congress, whether the US Mexico Canada Agreement (USMCA) passes is uncertain as Congressional Democrats want changes covering the enforcement of labor rights and duration of drug companies keeping an exclusivity for their products.