Mexican senate to hold special session to ratify USMCA trade deal ‘soon’

Both, Canada and Mexico are pushing to get the USMCA trade agreement ratified before the U.S. enters into poll mode ahead of the 2020 Presidential elections.

At a news briefing, Mexican President Andres Manuel Lopez Obrador stated, the government will send a new North American trade deal to the Senate which is likely to be ratified “soon,”.

The Senate, which is controlled by Lopez Obrador’s National Regeneration Movement (MORENA) and its allies, should approve the United States-Mexico-Canada Agreement (USMCA) once it has passed through congressional committee, said the president.

Ratification of the USMCA, which was brokered in 2018 to replace the 25-year-old North American Free Trade Agreement (NAFTA), will boost investment in the country and help create jobs, said Lopez Obrador.

“There is collective spirit in favor of approving the accord,” said Lopez Obrador.

Mexico’s announcement comes in the wake of a similar move by Canada which is also moving to ratify USCMA by formally presenting it to parliament ahead of a visit by U.S. Vice President Mike Pence.

Although the Mexican Senate is currently not in session, the government has stated it will special sessions would be held to pass USMCA.

The President stated, he was “optimistic” that the trade deal, which U.S. President Donald Trump had pushed for, would be approved in the U.S. Congress.

Lopez Obrador said, he does not expect major difficulties to arise in its U.S. passage.



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