Oregon businesses breathe sighs of relief over new North American Trade Deal
There were audible sighs of relief in Oregon’s business community after congressional Democrats and President Donald Trump reached an agreement on a new trade pact replacing NAFTA, the North American Free Trade Agreement.
Blumenauer and fellow Oregon Democratic Rep. Suzanne Bonamici both said the agreement contains a number of improvements that helped bring on board Democrats, who have been skeptical of free-trade deals.
It includes several provisions aimed at prodding Mexico into improving its labor and environmental standards. In particular, it would require higher wages in Mexican auto plants — or mandate that some of the work be shifted back to the U.S. and Canada.
Bonamici, who House Speaker Nancy Pelosi appointed to a work group on the new trade agreement, said if the broad political support brings ratification for the USMCA, the benefits should flow beyond Oregon’s biggest companies.