The deal just needs Trump’s signature to be fully approved in the U.S.
Agreement leaves unresolved Washington’s fundamental differences with Beijing, which is relying on massive government intervention in the economy.
Phase 1 pact does little to force China to make the major economic reforms – such as reducing unfair subsidies for its own companies.
Trudeau government will follow US approval to introduce implementation legislation of its own.
Looking to see how weakness from manufacturing may spread to services, employment, consumer spending or housing.
Earlier punitive duties imposed by both sides on billions of dollars of each other’s goods stayed in place
Global economy to grow 2.5% this year, up only slightly from 2.4% growth in 2019, the weakest performance since the 2008 financial crisis.
Also has to be approved by Parliament’s upper chamber.
House approved a bill that puts in place terms of USMCA.
Bill implementing terms of USMCA is expected to pass with bipartisan support.
Washington also agreed to postpone a planned tariff hike on US$160 billion of Chinese goods
Johnson’s Conservatives won an 80-strong majority in Parliament in last week’s general election.
NDP Leader Jagmeet Singh has remained tightlipped on whether New Democrats will vote for the agreement.
A proposal to change some EU trade rules will enable it to act even when the WTO can’t give a final ruling.
But minority Liberals must find support from across the political aisle to implement the agreement.