Grassley, Toomey disagree on USMCA
Iowa Senator Chuck Grassley supports ratification of the USMCA trade agreement. He says, “Twenty-five years of experience with NAFTA have provided valuable lessons. The time for modernizing NAFTA has come, and that’s what USMCA is all about.”
Grassley commented while chairing the Senate Finance Committee hearing on USMCA Tuesday.
Not all Senators like the new trade deal, including fellow Republican Pat Toomey from Pennsylvania who says USMCA is designed to diminish trade. Toomey says, “The combination of the uncertainty in these provisions and the onerous new costs imposed on Mexican automakers is designed to reduce trade in autos and diminish total trade. I don’t think that’s what we ought to be doing here, so I would urge my colleagues to think hard before we endorse USMCA.” Grassley quickly replied, “I’m glad you’re so wrong.”
A panel including Corteva Agriscience CEO James Collins, U.S. Dairy Export Council CEO Tom Vilsack, jeweler Paula Barnett, automotive industry representative Matt Blunt, and labor leader Michael Wessel all testified in favor of USMCA over NAFTA, but Wessel says the agreement still needs improvement.