Mexico First Country In North American Bloc To Ratify New Free Trade Deal

Faizan Hashmi Published June 20, 2019 | 02:00 AM

MEXICO CITY (UrduPoint News / Sputnik - 20th June, 2019) The Mexican senate ratified on Wednesday the new North American free trade agreement, becoming the first country in the trilateral agreement to do so.

The United States-Mexico-Canada-Agreement (USMCA), which will replace the 1994 NAFTA trade deal, covers auto and agricultural tariffs, intellectual property rights, labor standards, and environmental protections, among other issues.

The agreement must be ratified by the legislatures of each of the countries in order to take effect.

The deal was ratified in the Senate by 114 votes in favor, with four against and three abstentions.

US President Donald Trump and Canadian Prime Minister Justin Trudeau will discuss USMCA during their June 20 meeting in Washington.