On Thursday, the U.S. Senate approved the United States-Mexico-Canada Agreement, replacing the outdated 1994 North American Free Trade Agreement (NAFTA), which led to U.S. companies moving their manufacturing plants south of the border to take advantage of low-wage Mexican laborers.
The new deal passed unanimously in the Republican-led Senate, with 89-10 vote. The deal now heads to President Donald Trump‘s desk, where he is expected to sign it.
The new pact updates trading rules and regulations across the continent, fully utilizing today’s modern technology. The agreement will also provide relief to farmers, opening up international markets that will allow crop and dairy farmers to be more competitive.
#USMCA is a great deal for all three countries. It modernizes our trade relations, opens markets to our farmers and manufacturers, reduces trade barriers to the United States, and brings all three nations together in competition with the rest of the world. https://t.co/v8r9z04yVu pic.twitter.com/o3wI4AwMtv
— Department of State (@StateDept) January 16, 2020
Following the vote, the Florida Chamber praised the bipartisan support for the agreement, citing that it would strengthen Florida’s position as a global trade leader.
“With more than 2.5 million high-wage Florida jobs depending on international trade, the Florida Chamber of Commerce commends the U.S. Senate for passing USMCA. This bipartisan effort will benefit Florida’s agriculture industry, manufacturers and local businesses, and will help grow Florida’s $57 billion exports of goods and $43 billion in exports of services,” said Bob Grammig, Chair, Florida Chamber of Commerce’s International Trade Division, and Partner, Holland & Knight. “The Florida Chamber’s International Trade Division will continue fighting to strengthen Florida’s position as a global trade leader and will continue working to ensure Florida’s exports in goods double and exports in services triple by 2030.”
With 2.5 million high-wage jobs in FL depending on international trade, @FlChamber commends the U.S. Senate for passing USMCA. This bipartisan effort will benefit FLs agricultural, manufacturing and local businesses. #FlaPol
— Florida Chamber (@FlChamber) January 16, 2020