US Making Progress Towards Ratifying USMCA? - Forex News by FX Leaders
The new NAFTA will be called USMCA

US Making Progress Towards Ratifying USMCA?

Posted Tuesday, July 16, 2019 by
Arslan Butt • 1 min read

US Trade Representative Robert Lighthizer is all set to meet with Democratic leaders this week as discussions continue on the USCMA trade agreement. US President Trump has again upped the pressure to get the deal passed through the Congress soon.

White House Chief Economic Adviser Larry Kudlow expressed optimism that the USMCA could be ratified soon despite concerns raised by some Democrats over environmental, labor and pharmaceutical issues of the deal which could replace the NAFTA agreement.

Once ratified and implemented, according to the US government, the USMCA could boost US economy’s growth by up to 0.5% by creating new jobs and adding up to $100 billion new investments. At a White House event, Trump once again raised the issue in order to win support from Democrats to pass the deal.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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