WASHINGTON — The Democratic-led House has given President Donald Trump an overwhelming bipartisan victory on a renegotiated trade agreement with Canada and Mexico. The passage comes one day after the House impeached the Republican president.
One of Trump's signature priorities, the bill implementing terms of the trade agreement passed on Thursday with bipartisan support. It puts in place terms of the United States-Mexico-Canada Agreement, and now heads to the Senate.
The USMCA replaces the North American Free Trade Agreement, something Trump railed against during his campaign.
House Speaker Nancy Pelosi and her colleagues had won key concessions from an administration anxious to pass the deal before next year’s election season makes that task more difficult.
The deal was sought by farmers, ranchers and business owners anxious to move past the months of trade tensions that have complicated spending and hiring decisions.
The agreement is projected to have only a modest impact on the economy. But it gives lawmakers from both parties the chance to support an agreement that is attractive to farmers, ranchers and business owners.
The International Trade Commission projects that the USMCA will boost the economy by $68 billion and add 176,000 jobs within six years, according to The Associated Press.
The automotive industry would be one of the biggest beneficiaries, but the commission reportedly also found the deal will increase the cost of cars and pickups. That could lead to lower demand, resulting in an estimated 1,500 lost jobs.