House Passes USMCA Trade Deal

The U.S. House of Representatives today voted 385-41 to approve a revamped trade pact between the U.S., Mexico and Canada, known as USMCA.

The GOP-run Senate is expected to take up and pass the agreement after the new year.

Completing the trade deal has been one of President Trump’s biggest policy goals in 2019. House Democrats negotiated with the Trump Administration for months, with House Speaker Nancy Pelosi last week announcing a deal.

Among its provisions, the deal expands access to Canadian dairy markets for U.S. farmers. A study of USMCA by the International Trade Commission found that it would have a positive effect on the economy. It would raise U.S. gross domestic product by $68 billion, about 0.35%, and add 176,000 jobs, an increase of 0.12% in employment nationwide. Its largest benefit to the economy is ending uncertainty over trade policy.

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