US House approves Trump’s trade deal between US, Mexico and Canada. Here is how the deal would change trade in North America
The flags of Canada, Mexico and the U.S. are seen on a lectern before a joint news conference on the closing of the seventh round of NAFTA talks in Mexico City, Mexico March 5, 2018.
The approval by the Democrats came following changes to the bill that added tighter environmental rules and a mechanism to investigate labour rights abuses at Mexican factories. NAFTA that took effect in 1994, essentially slashing tariffs and tearing down trade barriers between the United States, Canada, and Mexico, unleashing a boom in trade in North America.
Trump who is largely supported by working-class Americans, heavily criticised the deal and called it America’s “worst trade deal”. For instance, USMCA allows US companies to transfer data across borders without encountering discriminatory barriers. Additionally, under USMCA, Mexico is not required to formally allow workers to form independent unions.
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