USMCA Passes Senate Committee, Full Vote TBA

Jan 10, 2020  | 2 min  | Ep4521

After several false starts, Vice Premier Liu He, is expected to arrive in Washington D.C. next week to continue high level negotiations in the U.S./China trade war.

As plans are being made for Liu’s arrival, the USMCA has started moving through the Senate.

Paul Yeager has the story.

Contact: Paul.Yeager@IowaPBS.org

Senator Charles Grassley, R - Iowa: “USMCA will bring much needed certainty and real benefits to America's farmers, workers and businesses.”

The Senate Finance Committee started the new year considering the United States Canada Mexico Agreement. 

The measure passed the House in December. Senator Charles Grassley says American farmers are getting more reliable market access, which includes provisions aimed at wheat and dairy access to Canada.

The agreement could create new jobs and raise wages, particularly in manufacturing.

Part of the criticism of the 1990’s era North American Free Trade Agreement was the lack of provisions for the digital economy. The internet has changed commerce around the globe, but little language existed to regulate the trade between countries in the $1.3 trillion dollar e-commerce economy.

According to Grassley, enforcement flaws were addressed in the bill.

Senator Charles Grassley, R - Iowa: “The bill before us today has something in it for everyone. And it's not often that we can say that about an implementing bill.”

A long list of supporting organizations of the measure were entered into the record. But this is one of many trade actions in motion for the administration.

With USMCA at the five yard line, business leaders are hoping the trade agreement will make it into the endzone soon.

Joe Murphy, Executive Director, Iowa Business Council: “Businesses of all sizes and shapes don't like uncertainty, and not having trade deals or having trade deals in flux or in motion doesn't help as businesses are trying to plan for their future and trying to figure out how they're going to invest their capital into 2020. So the sooner we can get these trade deals agreed to and negotiated and signed, the better it will be for I was economy.”

For Market to Market, I’m Paul Yeager.

 

 

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