USMCA Pact Nears Finish Line

Speaker of the House Nancy Pelosi said last week that House Democrats and the Trump administration have effectively come to an agreement on changes to the new North American trade agreement, and she’s waiting to see the deal in writing.

“We are within range of a substantially improved agreement for America’s workers,” Pelosi said in a statement. “Now, we need to see our progress in writing from (U.S. Trade Representative Robert Lighthizer) for final review.”

Even if Pelosi and Lighthizer formally announce their agreement soon, there’s very little time left on the legislative calendar for Congress to ratify USMCA before the end of the year. And, this is not the last hurdle to clear to finalize the tract pact.

The Pass USMCA Coalition, to which this Association belongs, continues to call on lawmakers to approve the trade pact.

In information it recently shared with members, it points out that this proposed deal gives unprecedented attention to small businesses, including establishing a special committee to help more small firms sell their goods internationally.

The trade deal also would increase the quantity of U.S. dairy products sold in Canada by 250 percent. It maintains the zero tariff and quota rates on certain U.S. exports at levels set by its predecessor agreement NAFTA.

Sources: Politico, Pass USMCA Coalition