US Trade Envoy Says Mexico's Ratification Of USMCA 'Crucial Step Forward'

Muhammad Irfan Published June 20, 2019 | 03:20 AM

WASHINGTON (UrduPoint News / Sputnik - 20th June, 2019) Mexico's ratification of the US-Mexico-Canada-Agreement (USMCA) is a crucial step forward towards replacing the current North American Free Trade Agreement (NAFTA), US Trade Representative Robert Lighthizer said in a press release.

"The USMCA's ratification by Mexico is a crucial step forward, and I congratulate President [Andres] Lopez Obrador and the Mexican Senate on this historic achievement," Lighthizer said on Wednesday.

Lighthizer reiterated that the new trade deal will benefit each nation's workers, farmers and businesses.

The deal was ratified in the Mexican 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 meeting on Thursday in Washington.

The 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.