Friday, July 3, 2020

Mexico ratifies new trade agreement with US and Canada

Featured

SBP calls meeting of Bank Presidents, top builders on Naya Pakistan Housing Program

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks on Wednesday for deliberations on...

Trump attends a graduation ceremony for officers, amid disputes with the Pentagon

US President Donald Trump is taking part in a ceremony to hand over certificates at the prestigious West Point...

Malaysia: coordinating border controls to combat migrant smuggling

The Malaysia police announced their cooperation with the armed forces and other enforcement agencies in conducting coordinated border controls...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Mexico was the first State to ratify the new North American Free Trade Agreement, at the insistence of the US President Donald Trump to replace the 25-year-old NAFTA agreement. With 114 votes to four, the Senate voted by a clear majority on Wednesday for the USMCA agreement, with which Mexico seeks to secure market access to the United States.

Eighty percent of Mexican exports goes to the United States. Trump had threatened to quit the trade pact altogether if there were none better conditions for his country.

After months of negotiations, an agreement was reached at the end of November. The third Contracting State of Canada also promotes ratification.

However, there is resistance in America, where the opposition Democrats have threatened to blockade because of concerns over labor law and environmental requirements.

Trump had recently threatened Mexico with punitive tariffs despite the agreement, should the neighboring country not take more vigorous action against immigration to America.

Mexico had finally agreed. The tariffs would have hit German companies such as Volkswagen, BMW and Daimler, which manufacture in Mexico.

Read also: Mexico adjusts immigration policy to US investments

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

Sacrificing role models of media

Remember Anil Datta, a gem of a reporter and guru of a sub-editor with the exemplary national spirit, foregoing...

Banks performance under SBP Rozgar Refinance Scheme supported by Government of Pakistan’s Risk Sharing Facility

On April 10, 2020 State Bank of Pakistan introduced a refinance scheme to provide concessional credit at 3% interest rate and generous repayment terms...

SBP calls meeting of Bank Presidents, top builders on Naya Pakistan Housing Program

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks on Wednesday for deliberations on the measures proposed by Naya...

China: The Indian army has breached its obligations and launched provocative attacks, causing casualties

Zhang said - in a statement this evening about the clashes between the Chinese and Indian border forces in the Galvan Valley region -...

UK’s economy suffers from epidemic – 600 thousand jobs lost due to Corona

Official figures indicate that the number of employees in the UK payroll fell more than 600,000 between March and May, according to the BBC,...

Related News