The News GodThe News GodThe News God
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
      • Biography
      • Net Worth
      • Famous Birthdays
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Reading: Fox News Today: Historic USMCA deal is much better than NAFTA: Pelosi
Share
Font ResizerAa
The News GodThe News God
Font ResizerAa
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
Search
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Follow US
  • About Us
  • Authors
  • Advertise
  • Contact Us
  • Disclaimer
  • My Bookmarks
  • Terms of Use & Privacy Policy
  • Media Partners
The News God > Blog > Business & Finance > Fox News Today: Historic USMCA deal is much better than NAFTA: Pelosi
Business & Finance

Fox News Today: Historic USMCA deal is much better than NAFTA: Pelosi

Sampson Gaddah
Last updated: December 10, 2019 4:23 pm
Sampson Gaddah
December 10, 2019
Share
5 Min Read
Fox News Today: Historic USMCA deal is much better than NAFTA: Pelosi
SHARE

Fox News Today:

The United States, Mexico and Canada have reached a historic trade deal.

“There is no question, of course, that this trade agreement is much better than NAFTA,” House Speaker Nancy Pelosi, D-Calif., said at a press conference announcing her caucus’s support of the agreement. Major U.S. stock indexes turned positive after the announcement.

U.S. Trade Representative Robert Lighthizer, Senior White House Adviser Jared Kushner and Canadian Deputy Prime Minister Chrystia Freeland are expected to be in Mexico City on Tuesday for a signing ceremony.

The deal must now be ratified by all three countries. A House vote, delayed as Democrats fought to improve enforcement mechanisms after winning a majority in the chamber in November 2018, is slated for next week. The modifications had delayed Congressional approval, raising the possibility that the deal might not be ratified this year since Congress adjourns Dec. 20, and prompted criticism from President Trump and his allies.

“Every once in a great while you get to participate in an ‘it will never happen moment,’” said House Ways and Means Committee Chairman Richard Neal, D-Mass. “We are witnessing that today.”

Also Read: Fox News Today: Top 5 states with the best economic outlooks

Congressional passage of the agreement “will be a significant win for farmers, workers and all Americans,” said Sen. Chuck Grassley, the Iowa Republican who chairs the chamber’s Finance Committee. “Renegotiating NAFTA was a central campaign promise made by President Trump. He kept his word and Americans will enjoy the many benefits of this upgraded trade deal as a result.”

 

Approving the agreement gives House Democrats, particularly those from more conservative districts, a useful talking point when they head home for the holidays. Many had been reluctant to face voters with few legislative achievements beyond impeaching the president, and Pelosi emphasized the deal’s importance to American workers.

USMCA “will be the best and most important trade deal ever made by the USA,” President Trump tweeted Tuesday. Vice President Mike Pence said the Democrats’ move is a victory for Trump’s policy and shows Pelosi and her caucus acquiescing “to the voice of the American people.”

The USMCA, which overhauls the Clinton-era North American Free Trade Agreement, commonly known as NAFTA, requires 75 percent of automobile components be manufactured in the United States, Canada and Mexico in order to avoid tariffs, and that 40 to 45 percent of automobile parts be made by workers who earn at least $16 an hour by 2023.

“More than 12 million American jobs depend on our $1.4 trillion trading relationship with Canada and Mexico, and USMCA will strengthen this trade relationship,” said Tom Linebarger, CEO of engine-maker Cummins Inc. and chairman of the Business Roundtable’s trade and international committee. The Roundtable represents the CEOs of the 200 largest U.S. companies.

The deal, endorsed by the AFL-CIO labor union, will also safeguard international markets for U.S. growers, who have been struggling with adverse weather conditions and the loss of many of their Chinese buyers.

“It will deliver a measure of certainty farmers badly need right now,” said Angela Hofmann, co-director of the advocacy group Farmers for Free Trade. “Now it’s time to get the bill passed before politics can get in the way. Farmers and ranchers will be watching closely to ensure that their members of Congress are standing up for American agriculture.”

USMCA is expected to create “north of 176,000 new jobs” and inject $34 billion into the U.S. auto industry, Commerce Secretary Wilbur Ross told FOX Business’ Maria Bartiromo, citing International Trade Commission data. He added that as many as 589,000 new jobs could be created within five years.

“Every day that it isn’t approved is a day delayed and the benefits to America,” Ross said.

FOX Business’ Edward Lawrence broke the news that a USMCA compromise was reached. Bartiromo was first to report the deal would come together this year.

Read More

3 Reasons Why Businesses Need Professional Debt Collection Agencies
5.9m Ghanaians registered for Ghana Card – NIA
Tips for becoming a better financial trader
The Importance of Sustainable and Socially Responsible Business Practices for Orlando’s Growth
Finding Clear Lake Waterfront Home Made Easy With Simple Tips
Share This Article
Facebook Email Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Fox News Today: Impeachment backlash will propel GOP to win White House, Senate and House: Tammy Bruce Fox News Today: Impeachment backlash will propel GOP to win White House, Senate and House: Tammy Bruce
Next Article Fox News Today: Kevin McCarthy: Dems cannot get over the fact Trump won the election Fox News Today: Kevin McCarthy: Dems cannot get over the fact Trump won the election
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Publications

America Party
Elon Musk Launches a New Political Party
Politics
July 6, 2025
Central Texas flood
The death toll from Central Texas flood rises as rescuers continue to search for victims
News
July 5, 2025
Verlonis Biography, Net Worth, Personal Details, Boyfriend, Age, Measurements & More
Verlonis Biography, Net Worth, Personal Details, Boyfriend, Age, Measurements & More
Biography
July 4, 2025
Over 20 Peple Injuered In an Explosion at Rome petrol station
At Least 45 Peple Injuered In an Explosion at Rome petrol station
News
July 4, 2025
India Launches $234 Million Drone Incentive Program after clash with Pakistan
India Launches $234 Million Drone Incentive Program after clash with Pakistan
News
July 4, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe

You Might also Like

A Comprehensive Analysis of the Financial Transaction Tax
Business & Finance

Navigating the SR&ED Tax Incentive Program

August 15, 2024
Make Your Office Look Elegant With The Best Office Chairs And Cheap Desks
Business & Finance

Make Your Office Look Elegant With The Best Office Chairs And Cheap Desks

January 15, 2022
Using Facebook for Your Business in 2022
Business & Finance

Using Facebook for Your Business in 2022

October 11, 2021
Top Reasons Why you Should Purchase the Apple Latest Phone
Business & FinanceTech & Autos

Top Reasons Why you Should Purchase the Apple Latest Phone

November 2, 2021
Show More
© 2025 Thenewsgod. All Rights Reserved.
  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Disclaimer
  • Authors
  • Media Partners
  • Videos
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?