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Agreement on USMCA Strikes Expanded Protections for Biologics

President Donald Trump and House Speaker Nancy Pelosi have reportedly reached an agreement on the much debated United States-Mexico-Canada Agreement (USMCA), which would, if ratified, replace the defunct and maligned North American Free Trade Agreement (NAFTA). The agreement, announced by Speaker Pelosi on Tuesday morning, comes as the House prepares to impeach President Trump, which makes it somewhat surreal, given that House Democrats seem poised to deliver President Trump a victory. During his presidential campaign, then-candidate Trump promised at nearly every campaign stop to renegotiate NAFTA. “It is infinitely better than what was initially proposed by the administration,” Ms. Pelosi said. “It’s a victory for America’s workers.” In remarks posted on Twitter, President Trump said: “America’s great USMCA Trade Bill is looking good. It will be the best and most important trade deal ever made by the USA. Good for everybody – Farmers, Manufacturers, Energy, Unions – tremendous support. Importantly, we will finally end our Country’s worst Trade Deal, NAFTA!”

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