Monday, Oct 18

Mexico approves new trade deal with Canada and US

Mexico approved a new free trade agreement with US and Canada after the country's Senate voted 114 in favor of the proposed deal.
20.06.2019 - 15:31

Mexico's parliament has passed the new US-Mexico-Canada (USMCA) trade agreement after months of intense negotiations.

NEW TRADE DEAL

"#TMEC [USMCA] approved! Mexico takes the lead, with clear signs that our economy is open market," said Jesus Seade, Mexico's undersecretary for foreign affairs and USMCA trade negotiator, in a Twitter post on Wednesday.

Seade expressed hope that other partners will follow suit in the interests of "a strong North America with clear rules, being attractive, stable and competitive for investment."

A picture posted by Saede shows that the agreement was passed in the parliament with 114 votes in favor, four against and three abstentions.

The trilateral trade bloc will be called USMCA instead of North American Free Trade Agreement (NAFTA) which was a condition of the Donald Trump’s administration.