The U.S. International Trade Commission will review the U.S.,-Mexico-Canada Agreement next month. The Commission is scheduled to meet November 15th for an economic review of the trade agreement that will replace the North American Free Trade Agreement.
Politico reports that the ITC probe, which is required by Congress, formally launched Friday. The Commission has until mid-March to complete its report, and Congress is expected to wait until the review is finished to vote on the trade pact. However, Trade Promotion Authority rules don’t require Congress to wait for the review. The Commission is looking for how the agreement will impact the U.S. economy as a whole, along with the impact to specific sectors and consumers.
The new trade agreement between the U.S., Mexico and Canada, is expected to be signed before the end of November by leaders of the three countries, but must be approved by the governing bodies of each nation before taking effect.
Source: National Association of Farm Broadcasting News Service.