U.S. trade agency gives Congress to-do list for USMCA deal

WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer on Tuesday sent Congress a list of legislative changes required to implement the new U.S.-Mexico-Canada trade pact, a key step in the approval process for replacing the North American Free Trade Agreement.

The list includes changes to U.S. laws governing rules of origin for autos, which is significantly different from NAFTA, including a requirement that North American-built autos include significant content in plants with wages averaging at least $16 an hour — effectively in the United States or Canada. It also requires legal changes that exclude Canada and Mexico from “global safeguard” tariffs as agreed under USMCA.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.