By ET Bureau - January 17, 2020 1 Mins Read
The U.S. Senate has passed a revamp of the 26-year-old North American Free Trade Agreement on Thursday. The trade agreement includes stricter rules on labor and automotive content, leaving $1.2 trillion in annual U.S.-Mexico-Canada trade flows mostly unchanged. The legislation to implement the U.S.-Mexico-Canada Agreement passed by 89-10 bipartisan vote, sending it to President Donald Trump for signing into law.
The U.S. House of Representatives passed the legislation on Dec. 19 after hammering out changes to ensure better enforcement of labor rules and tighter environmental rules during months of often contentious negotiations with the Trump administration.
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