President Trump's tariff threat didn't hurt the USMCA after all.
On Wednesday, Mexico's senate overwhelmingly voted to ratify the U.S.-Mexico-Canada trade agreement. The deal is an update of North American Free Trade Agreement the three countries squabbled over last fall, and comes despite Trump threatening tariffs on Mexico a few weeks ago.
Mexico's Senate voted 114-4 to approve the deal, with three lawmakers abstaining from the vote. Some of those voting for the deal were cautious, seeing as Trump has been notoriously unpredictable when dealing with his southern neighbor, but said the bill was essential in guaranteeing Mexico's economic viability, Politico reports. Despite largely voicing opposition to Trump, Mexican President Andrés Manuel López Obrador also pushed for the deal, essentially ensuring its passage in a Senate held by his party. The deal contains many of the same provisions as NAFTA, but calls for more automotive manufacturing within the three countries, per The Washington Post.
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The approval came despite Trump threatening in late May to impose tariffs on Mexico unless it curbed the flow of migrants into the U.S. Several GOP lawmakers broke with Trump over the tariff threat, with some saying it would jeopardize the USMCA's passage. Trump later called off the threat after successful discussions with Mexican authorities.
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