ICYMI: Toomey Outlines Opposition to USMCA During Finance Committee Markup
(Click the Image to Watch Full Remarks)
Washington, D.C. - This morning at the Senate Finance Committee, U.S. Senator Pat Toomey (R-Pa.) outlined his opposition to the United States-Mexico-Canada Agreement (USMCA) and detailed why the agreement's implementing bill is not eligible for expedited consideration in the Senate.
You can view Senator Toomey's full remarks here.
"NAFTA needed to be updated because it's an old agreement and the economy has changed, but that's not the real reason that his agreement was renegotiated. The real reason was because we have a trade deficit with Mexico and the administration deemed that to be unacceptable. I think it's useful to think about USMCA as consisting of NAFTA with primarily two categories of changes: One is a category of changes that modernizes it...the second category are the changes that are meant to diminish trade and investment. This my colleagues is what I think is wrong with this agreement: it's the first time we're ever going to go backwards on a trade agreement."