On Tuesday, December 10, a revised U.S.-Mexico-Canada agreement, known as the USMCA, was signed by the three countries in a ceremony held in Mexico City. The USMCA will replace the North American Free Trade Agreement. Mexico approved the USMCA on Thursday evening by a wide margin, 107-1. A vote in the U.S. House of Representatives is expected to take place Thursday with the Senate taking it up in the new year.
Highlights from the agreement:
- Assistance for small & medium-sized businesses
- Customs efficiencies will reduce border wait times
- Authorization of North American Development Bank
- Funding for EPA grants under the Border Water Infrastructure Program to address pollution on the U.S.-Mexico border
The Chamber issued a statement in support of the deal and urging Congressional leaders to vote in support of the agreement.
Chamber President & CEO Jerry Sanders and Vice President of International Business Affairs Paola Avila were also featured in several news stories about the USMCA deal: