Revised USMCA to Face House Floor Vote on Thursday

The USMCA is likely to come up for a House Vote on Thursday after the US House Ways and Means Committee approved the revisions to the trade deal via voice vote, and all signs point to it receiving support in the upcoming floor vote. Once voted through, the USMCA will replace the aging NAFTA trade agreement among the US, Mexico and Canada.

Apart from opposition from one Democrat member on the Committee, other members appreciated the updated agreement for its efforts to enforce stronger provisions towards protecting labor rights of factory workers. Later today, the House of Representatives is expected to vote on launching formal impeachment proceedings against President Trump.

Meanwhile, Canadian PM Justin Trudeau commented that his country looks set to be the last nation to ratify the USMCA, after Mexico already ratified the agreement and the US looks set to do so soon. Legislators in Canada will return from their winter break on January 27, 2020, and it looks likely that Canada could end up ratifying the trade agreement only after this.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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