Well, something is getting done in Washington!

Literally in the midst of impeachment proceedings, the House of Representatives and the White House reached a deal to move forward with a replacement for NAFTA, the United States-Mexico-Canada Agreement, USMCA.

House Democrats appoved the measure after concerns regarding law enforcement tools for labor and the environment were resolved.

“The deal as signed last year made a few key changes from NAFTA, which took effect in 1994,” according to CNBC. “U.S. farmers got better access to the Canadian dairy market, rules of origin for auto parts became more strict, nearly half of automobile parts had to be produced by workers who make at least $16 an hour and digital trade and intellectual property rules were updated, among other provisions. Still, Democrats fought for measures they said would better prevent outsourcing of U.S. jobs to Mexico.”

The move would bode well for our industry, according to experts. In a commentary earlier this year on USMCA, Gregory Healy, Senior Vice President, and leader of the U.S. Supply Chain and Logistics Consulting team for Colliers International, said;

‘What’s good for the manufacturing industry and the U.S. economy is also good for commercial real estate. Under the USMCA, North American manufacturing businesses would benefit from seeking growth opportunities in their immediate region.”