U.S.-Mexico-Canada trade deal vote may happen this week

Washington-DC

WASHINGTON, D.C. (Nexstar) — Monica Crowley with the U.S. Department of Treasury says the United States-Mexico-Canada trade deal is a win for everyone.

“We’ve taken the bad trade deal of NAFTA, brought it up to date, modernized it and strengthened it,” says Crowley.

She says Democrats, Republicans, and the White House all support the deal, but she says the biggest victory is for American workers.

“Hundreds of thousands of jobs for the United States, and that is going to be an incredible boost to the U.S. economy, which is already strong,” says Crowley.

A report by the U.S. International Trade Commission says if the USMCA passes, there will be an economic boost. But Michael Mandel with the Progressive Policy Institute says it won’t be very noticeable.

“We won’t know until we see it. It’s a funny situation because it is actually not a new treaty, it is replacing something that already exists,” says Mandel.

The report says the trade deal is expected to boost the U.S. economy by less than 0.4% — that’s about $68 billion dollars.

Mandel admits that any boost in the economy is good news, especially for the industries hit hard by the recent tariffs and trade wars.

The House is expected to vote on the USMCA trade deal as early as this week.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

TRENDING STORIES

CBS 42 Cares

See more on CBS 42 Cares page