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US Senate approves USMCA; NRF, NCTO welcome move

17
Jan '20
Pic: Shutterstock
Pic: Shutterstock
The US Senate yesterday approved by a vote of 89-10 the US-Mexico-Canada Agreement (USMCA), which was signed by President Donald Trump in November 2018. It received a similar bipartisan vote in the House of Representatives last month. A White House statement called the step "another trade win for American workers," replacing "the job-killing, huge failure NAFTA."

"USMCA, which the President successfully negotiated over a year ago, rebalances trade between the three countries and will lead to significant economic and job growth in the United States," the White House statement said.

The National Retail Federation welcomed the passage of the agreement, with its president and chief executive officer Matthew Shay saying in a statement that the agreement will support millions of US jobs that depend on free trade with Canada and Mexico and will ensure the continued availability of affordable everyday necessities for American families.

The National Council of Textile Organizations (NCTO) also lauded the passage. "We are pleased the Senate voted swiftly to approve USMCA, a trade deal that we expect to significantly bolster textile exports to the Western Hemisphere, particularly to Mexico,” said NCTO president and chief executive officer Kim Glas in a statement.

Fibre2Fashion News Desk (DS)


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