Federal Spotlight: USMCA Passes Senate; Trump Signs Phase One Trade Agreement with China
January 16, 2020
There was an incredible amount of positive news on the trade front this week as the United States Senate ratified the United States-Mexico-Canada Agreement by a resounding vote of 89-10 today. It passed the House late last year 385-41. The new trade accord will now head to President Trump’s desk for his signature. Canada, which still must approve the pact, is extremely likely to do so in the near future.
President Trump also signed a Phase One trade agreement with China this week as the world’s leading economic powers take a step back from trade tensions. Some aspects of the deal include expanding China’s purchase of U.S. agriculture goods, addressing intellectual property protection and ending forced technology transfer. Read more from CBS News.