Mexico’s Senate Approves Trade Deal With US, Canada

Epoch Times: MEXICO CITY—Mexico’s Senate voted overwhelmingly on June 19 to ratify a new free trade agreement with the United States and Canada, making it the first of the three countries to gain legislative approval.

Mexico’s upper chamber voted 114 to four with three abstentions in favor of the U.S.-Mexico-Canada Agreement, or USMCA. U.S. President Donald Trump had demanded a renegotiation of the North American Free Trade Agreement that it will replace.

Mexican President Andrés Manuel López Obrador said in a recorded message that the vote was “very good news.”

“It means foreign investment in Mexico, it means jobs in Mexico, it means guaranteeing trade of the merchandise that we produce in the United States,” he said.

Mexico’s economy ministry in a statement said that with the approval “Mexico sends a clear message in favor of an open economy and of deepening its economic integration in the region.”

Mexican lawmakers had already executed a series of labor reforms that the U.S. had demanded. more

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