The Trump Administration and House Democrats reached an agreement on a revised U.S.-Mexico-Canada trade agreement (USMCA or NAFTA 2.0), setting the course for likely ratification.

The House will likely vote on it this year after the impeachment vote and the Senate will likely vote on it after the likely impeachment trial early next year. We view the agreement with House Democrats as an important milestone toward modernizing the North American free trade zone and anticipate a positive impact on the U.S. economy.

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