The full Senate could pass the United States-Mexico-Canada Agreement later this month.
The full Senate could take up the replacement for the North American Free Trade Agreement later this month, and the House has already approved it.Ranking member Sen. Ron Wyden, D-Ore., left, speaks with chairman Sen. Chuck Grassley, R-Iowa, during the Senate Finance Committee hearing on "The United States-Mexico-Canada Agreement" on Tuesday, July 30, 2019.
Businesses have sought stability as Trump stirs up trade conflicts with China and other major economic partners. The president made replacing NAFTA and cracking down on Beijing's trade abuses a priority in his first term in the White House and used tariffs as a negotiating tool around the world. Three Senate Finance Committee members voted against reporting the bill favorably Tuesday. They were Sens. Pat Toomey, R-Pa., Sheldon Whitehouse, D-R.I., and Sen. Bill Cassidy, R-La.
Mexico has ratified the trade agreement. Canada may not approve it until later this month. The agreement does not take effect until all three nations ratify it.Trump's impeachment could complicate the Senate's efforts to pass the deal. After House Speaker Nancy Pelosi sends House-passed articles of impeachment to the Senate, the chamber will start a trial on whether to remove him from office.
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