"The Trump administration's stated goal was to ensure that more of the vehicles will be produced in North America. But the outcome will be just the opposite," the economists said.
Leaders of the three countries signed the USMCA in Argentina on the sidelines of the G20 summit in late 2018, and the agreement needs to be ratified by lawmakers in each country before it could be implemented.
U.S. House Democrats and the administration had negotiated for months over issues including labor and environmental enforcement, as well as pharmaceutical provisions before finally reaching an agreement in December 2019. The House approved a bill to implement the revised USMCA with a 385-41 vote.
House Speaker Nancy Pelosi, who wasn't invited to the ceremony, said earlier that the revised agreement was "light years" ahead of what the Trump administration negotiated with Canada and Mexico.
AFL-CIO, the largest labor federation in the United States, said that "we are thankful" to House Speaker Nancy Pelosi and her allies on the USMCA working group, who pushed to "remedy numerous shortcomings" contained in the original USMCA text.
Despite the landslide bipartisan vote, some Democratic lawmakers still argued that the USMCA doesn't go far enough to protect U.S. jobs, while some Republicans have expressed concern over concessions the Trump administration made to get Democrats' support for the trade deal.
Senate Majority Leader Mitch McConnell, a Kentucky Republican, had also said that the revised USMCA is "not as good as I had hoped."
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