Mexican Senate First to Ratify USMCA
The Mexican Senate voted to ratify the U.S.-Mexico-Canada Agreement on June 19, positioning Mexico to become first of the three countries to approve the renegotiated NAFTA. There have been some initial movements toward consideration of the deal by the U.S. Congress, and Canada is seen as likely following the U.S.'s lead before its legislature gets fully engaged (see 1906110040).
The vote was near unanimous, with 114 senators representing a majority of all major Mexican political parties voting in favor, according to a tweet from the Mexican Senate. The ratification bill now goes to the Mexican executive branch for publication in the Diario Oficial, which will mark the formal ratification of the trade deal.
Mexican President Andres Manuel Lopez Obrador applauded the affirmative vote in a tweeted video. He said it shows unity, and that Mexico is in agreement on strengthening its relationship with the U.S. and Canada.
The Mexican Business Coordination Council said the ratification “represents an important step toward creating certainty for investment, better opportunities for workers and consumers, and conditions for strengthening the development of our country,” in a tweeted statement. “The Mexican private sector will continue working together with its counterparts in the United States and Canada, to push for ratification of the treaty in those countries.”
House Ways and Means Committee ranking member Kevin Brady, R-Texas, offered support for Mexico's approval of the deal. "I congratulate the Mexican Senate for voting overwhelmingly to ratify USMCA this afternoon," he said. "Today’s action, combined with passage of Mexico’s landmark labor legislation earlier this spring, demonstrate Mexico’s solid commitment to serious reform and tough new rules to create fairer trade. Now it’s time for the U.S. Congress to pass USMCA as soon as possible to unlock the benefits of this agreement for U.S. workers and our local businesses. The longer Congress delays, the more our country loses out on new jobs, more customers for Made-in-America goods, and a stronger economy.”