The U.S. Senate Wednesday put its finishing touches on the U.S.-Mexico-Canada Agreement. Senator Chuck Grassley (R-IA), chair of the Finance Committee and Senate President Pro tempore, signed the agreement, the final step before the agreement heads to the White House. The ceremony Wednesday signals the end is close after the nearly three-year process of renegotiating the agreement, then further negotiations to gain U.S. congressional approval.
Senator Deb Fischer (R-NE), who attended the ceremony Wednesday, says she is “proud that this critical trade agreement has finally come across the finish line.”
In January 2017 President Trump announced his intention to renegotiate the North American Free Trade Agreement. The trade talks started in May of that year. A deal was reached in September of 2018 between the U.S., Mexico, and Canada.
Canada will consider the passage of the agreement next week. Canada is the last of three nations to take action. Mexico has already ratified it. The USMCA, or CUSMA, as it’s known in Canada, is estimated to be worth an extra $2 billion annually in exports for U.S. farmers.