Mexican Media Brands
Pence Urges Congress to Act on USMCA
Congressional approval of the updated North American Free Trade Agreement remains mired and “the clock is ticking,” says Vice President Mike Pence.
#economics
Share
Congressional approval of the updated North American Free Trade Agreement remains mired and “the clock is ticking,” Vice President Mike Pence tells reporters.
The U.S.-Mexico-Canada trade pact was signed by all three countries last November. It has since been ratified by Mexico and is undergoing the same process in Canada.
But Democrats in the U.S. House of Representatives have said they won’t approve the deal without strengthening its provisions on climate, enforcement, labor and the pharmaceutical industry.
Republicans have signaled willingness to make changes in the agreement. But they continue to caution that attempting to completely rewrite the entire deal would likely kill it.
The International Trade Commission has estimated that the USMCA could boost the U.S. gross domestic product by $68 billion and create 176,000 jobs in the country—but also reduce car sales by 140,000 units.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.