Mexico has ratified a new trade deal with the United States of America and Canada (USMCA) as the first of three countries. On Wednesday, June 19, 114 members of the Mexican upper house of parliament voted in favor of the deal, four senators opposed.
Recall that the United States, Mexico and Canada signed the USMCA on November 30, 2018, which will replace the North American Free Trade Agreement (NAFTA), which has been in force since 1994.
Earlier, the US President initiated a revision of NAFTA, explaining this by unfavorable conditions for his country. During his presidential campaign, Trump called NAFTA a "disaster." In his opinion, the shortcomings of the agreement led to the fact that many production facilities, which provided a sufficient number of well-paid jobs, were transferred from the United States to Mexico. At first, Trump insisted on the US withdrawal from this free trade zone, but later changed his mind.
The free trade zone between the USA, Mexico and Canada is one of the largest in the world. It covers almost 500,000,000 people.
