Top officials from US, Mexico and Canada finally signed a revised version of the USMCA in Mexico City yesterday, after backing from House Democrats. The signing event was held at the National Palace and was attended by Mexico President Andres Manuel Lopez Obrador, Canadian Deputy Prime Minister Chrystia Freeland, US Trade Representative Robert Lighthizer, and US White House adviser Jared Kushner.
House Speaker Nancy Pelosi hailed at a news conference that “it is infinitely better than what was initially proposed by the administration”. Canada’s Freeland celebrated it as a win for multilateralism, and said “we have accomplished this together at a moment when, around the world, it is increasingly difficult to get trade deals done”.
Now, the Democrat-controlled House in the US is ready to vote on the agreement and should be passed swiftly before the end of the year. However, Senate Majority Leader Mitch McConnell said the trade deal would not be considered next week before the chamber begins its winter congressional recess. The trade deal would be addressed in the Senate after an impeachment trial, which could last through January or February.
