The
United States, Mexico and Canada have reached a historic
trade deal.
"There is no question, of course, that this trade agreement is much better than NAFTA," House Speaker Nancy Pelosi, D-Calif., said at a press conference announcing her caucus's support of the agreement. Major U.S. stock indexes turned positive after the announcement.
U.S. Trade Representative Robert Lighthizer, Senior White House Adviser Jared Kushner and Canadian Deputy Prime Minister Chrystia Freeland are expected to be in Mexico City on Tuesday for a signing ceremony.
The deal must now be ratified by all three countries. A House vote, delayed as Democrats fought to improve enforcement mechanisms after winning a majority in the chamber in November 2018, is slated for next week. The modifications had delayed Congressional approval, raising the possibility that the deal might not be ratified this year since Congress adjourns Dec. 20, and prompted criticism from President Trump and his allies.
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