C.D. Howe Institute said all three countries will be worse off under the new agreement, government says it amounts to a 0.25% gain in GDP.
Conservatives wanted to extend committees’ study of the agreement into March.
The United States and Mexico have already ratified the agreement
“The new NAFTA is a victory for all Canadians, of every political view, and in all regions of the country,” Deputy PM Freeland said, trying to stir up support for ratification
…But it will still take several months before the new trade rules fully in place.
Amendments would reopen negotiations with the US and Mexico, which would have to accept any changes.
Canada is the now the only hold out on the trilateral trade pact.
Blanchet said the final deal does not provide the same protections for Quebec’s aluminum industry as it does for steel and Ontario’s auto-manufacturing sector.
NDP and the Bloc are likely to oppose USMCA, but are expected to support efforts to strengthen gun control.
House approved a bill that puts in place terms of USMCA.
But minority Liberals must find support from across the political aisle to implement the agreement.
The Liberal government will need at least one other party to support the ratification.
Americans want to make sure those changes to Mexican labour standards have teeth.
Democrats are pushing to fortify enforcement mechanisms for labour standards and environmental protections.
Richard Neal will be key to bringing ratification of the new USMCA to the floor of Congress for final legal approval.