The U.S. Senate passed the U.S.-Mexico-Canada Agreement by a bipartisan vote of 89-10. With passage through both congressional chambers, USMCA will now move to the president’s desk for signature.
The U.S. House of Representatives passed a bill to enact President Donald Trump’s U.S.-Mexico-Canada Agreement (USMCA) on Dec. 19, 2019, by a vote of 385-41. The measure now goes to the Senate, which The Hill reports is also expected to pass following the conclusion of Trump’s impeachment trial.
The pact may give U.S. farmers additional access to Canadian markets, which could facilitate additional equipment sales. Initial reaction from industry officials was generally optimistic, though some pointed out that other trade hurdles still exist that the new agreement doesn’t address.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.