Wilbur Ross Expects Senate to Pass USMCA 'Overwhelmingly'

The transcript discusses the USMCA, the successor to NAFTA, highlighting its impact on trade with Canada and Mexico. Key changes include benefits for farmers, new rules of origin for the automotive industry, and expected job creation. The discussion also covers trade volume expectations, Senate ratification concerns, and bipartisan support for the agreement. Improvements made by Democrats in labor and environmental enforcement are noted, making USMCA superior to NAFTA.

What are the primary benefits for farmers under the new trade agreement with Canada and Mexico?

• Reduced tariffs on agricultural exports

• Subsidies for local farmers

• Increased access to European markets

• Improved trade conditions with Canada and Mexico

How are the new rules of origin expected to impact the US automotive industry?

• Shift of jobs to Canada

• No change in automotive jobs

• Increase in automotive jobs

• Decrease in automotive jobs

What is the expected outcome of the USMCA in terms of trade volume with Canada and Mexico?

• Trade will shift to Europe

• No change in trade

• Increase in trade

• Decrease in trade

What was the main challenge in getting the USMCA passed in the House?

• Disagreement over environmental standards

• Opposition from the automotive industry

• Getting Speaker Pelosi to allow a vote

• Lack of support from farmers

What improvements did the Democrats make to the USMCA?

• Stricter immigration policies

• Increased tariffs on imports

• Enhanced enforcement mechanisms for labor and the environment

• Reduced support for the automotive industry