Mexico has become the first country to ratify the United States-Mexico-Canada Agreement, the new trade deal that’s supposed to replace NAFTA.
And that’s important for the South Carolina economy.
The Palmetto State has strong economic ties to Mexico, with the southern nation being the state’s 4th largest export market.
South Carolina exports about $2.6 billion dollars’ worth of products and materials to Mexico each year, importing another $3.6 billion.
As of 2017, more than 70,000 jobs in South Carolina depend on trade with Mexico.
After President Trump’s meeting with Canadian Prime Minister Justin Trudeau Thursday, President Trump says he’s remaining hopeful that it will pass through the Democratic Party.
“If – and the if is really subject to the Democrats,” Trump said. “We’ll see what happens, but I really believe that Nancy Pelosi and the House will approve it, and I think the Senate will approve it rapidly.”
Both the United States and Mexico are now waiting on their nation’s government to formally consent.
The trade deal negotiations started back in 2017 when the president threatened to withdraw from NAFTA.
