Mexico takes lead in ratifying U. S.-Mexico-Canada agreement

Release time:

2019-06-27

The Mexican Senate overwhelmingly approved a new free trade agreement with the United States and Canada on June 19, making it the first of the three countries to successfully get the legislature to ratify the agreement.

According to a report by the Associated Press on June 19, the Mexican Senate passed the United States-Mexico-Canada agreement with 114 votes in favor, 4 votes against, and 3 abstentions. The agreement will replace the North American Free Trade Agreement. US President Donald Trump has threatened to withdraw from the North American Free Trade Agreement if Washington does not get better treatment from it.

According to the report, Mexican President Lopez said in a recording that the result of the vote was "very good news".

He said: "This means that foreign countries will invest in Mexico, it means that Mexico will create more jobs, it means that our commodity trade with the United States is guaranteed."

The United States is reported to be Mexico's largest export market, so in Mexico, the agreement has encountered little resistance in the legislature. Trump has previously threatened to impose tariffs on all Mexican goods if Lopez fails to reduce illegal immigration into the United States from Central America.

The Mexican Economy Ministry said in a statement that the Senate's approval of the agreement was "a clear signal from Mexico to support the opening of the economy and the deepening of regional economic integration".

In a statement, U.S. Trade Representative Robert Lighthizer praised Mexico's ratification of the agreement as a "critical step forward".

The Mexican Senate is widely expected to ratify the agreement. Lopez's allies dominate the legislature, and conservatives and pro-trade lawmakers in the opposition are also considered supporters of the pact.

The U. S.-Mexico-Canada agreement was reportedly developed last year by the delegation of then-Mexican President Peña Nieto and the delegation of President-elect Lopez to ensure that both the outgoing and incoming administrations were involved. Lopez took office on 1 December last year, the day before the agreement was signed.

The agreement does not need to be ratified by the Mexican House of Representatives. However, it still needs to be considered by U.S. and Canadian lawmakers. In the Democratic-controlled U.S. House of Representatives, some members still oppose ratification of the agreement.

(Source: Reference News Network)

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