Another Huge Victory: President Trump Signs USMCA But Didn't Invite Speaker Pelosi to the Ceremony
President Trump signed the trade deal with Mexico and Canada into law, replacing Clinton’s 1994 North American Free Trade Agreement, as over 400 guests including hog farmers, business, industry union leaders, and 70 Republican members of Congress witnessed, on the South Lawn of the White House Wednesday morning.
House Speaker Nancy Pelosi (D-CA) was not invited to the signing. It was also reported that not one Democrat was invited. A Senate Republican aide pointed out that Democrats delayed the passage of the trade agreement and did not deserve to be part of the signing ceremony.
The United States-Mexico-Canada Agreement (USMCA), the biggest trade deal in U.S. history, forces 75 percent of automobile parts to be made in the United States, Canada, or Mexico in order to avoid tariffs, and by 2023 40-45% of the parts must be made by workers earning at least $16 per hour.
80,000 new jobs in the auto industry are expected to be created by the new agreement, and will bring in up to $30 billion of new investment in the sector.
The USMCA is also a huge victory for American farmers and ranchers as it opens new markets for poultry, pork, wheat, dairy, and more. Once the deal is fully implemented, it’s expected to lift the U.S. gross domestic product by as much as 1.2 percentage points and up to 589,000 jobs.
USMCA is a massive win for American manufacturers and auto workers! pic.twitter.com/eOgFm31cAo— Donald J. Trump (@realDonaldTrump) January 29, 2020
“Thanks to our pro-worker, pro-American economic policies, unemployment is at the lowest level in more than 50 years. We have created over 7 MILLION new JOBS. More Americans are working today than EVER before. We have the hottest ECONOMY on earth!” tweeted President Trump, after signing the USMCA.
Thanks to our pro-worker, pro-American economic policies, unemployment is at the lowest level in more than 50 years. We have created over 7 MILLION new JOBS. More Americans are working today than EVER before. We have the hottest ECONOMY on earth! pic.twitter.com/TRGKRF7xgQ— Donald J. Trump (@realDonaldTrump) January 29, 2020