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U.S. Senate approves U.S.-Mexico-Canada trade deal in landslide vote
Updated: 2020-01-17 16:33:36 KST
The revamped North American trade deal was approved on Thursday by the U.S. Senate, and only needs President Trump's signature to become law.
As the vote for the U.S.-Mexico-Canada Agreement was approved by 89 votes to 10, the USMCA will replace the 26-year-old deal known as NAFTA.
President Trump has blamed the Clinton-era agreement for the loss of countless factory jobs in America to Mexico where wages are much lower.
The revised deal includes tougher rules on labor and automobiles, as well as rules on digital services and e-commerce.
The U.S. House passed the bill last month after demanding changes to improve rules on labor rights.
The Senate approval came just a day after Trump signed a Phase 1 trade deal with China, and the Trump impeachment articles were sent to the Senate.
President Trump tweeted that American farmers are very happy with the new trade deal with China, while mentioning that the USMCA will be signed as soon as possible.
Mexico has already approved the agreement, and Canada is expected to do so in coming months when the Canadian parliament returns to session after January 27th.
The USMCA is expected to see little resistance in Canada, as Conservatives have said they would back the deal by Justin Trudeau's Liberal-dominated government.
Eyes are on whether these trade deals will pressure other trading partners to revise their U.S. trade deals.
South Korea and Japan have already revised their free trade deals with the U.S., while President Trump has been asking other countries to make new trade deals, claiming the existing ones are "unfair" to the U.S.
Yoon Jung-min, Arirang News.
Reporter : yoonjm@arirang.com