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Kudlow estimated that the overall economic impact in the US would be "minimal," adding that it could "spur some business investment in equipment."
Trump said the agreement would boost growth in the US economy by 1.2%, a figure far above estimates in his own administration and elsewhere.
The passage handed President Donald Trump another trade victory on the same day that impeachment proceedings moved to the upper chamber.
A GOP senator slammed Trump’s NAFTA rewrite, saying it ‘the only trade pact ever meant to diminish trade’
"USMCA has a myriad of provisions to warm the hearts of protectionists," Toomey wrote in a Wall Street Journal op-ed.
In a new analysis, the Peterson Institute for International Economics estimated the agreement would cause US growth to decline by 0.12%.
House Speaker Nancy Pelosi celebrated her party's work on the United States-Mexico-Canada Agreement (USMCA) this week.
Progressives slam Democrats for announcing their new trade deal with Trump an hour after they said they’re bringing articles of impeachment
Behind closed doors, Pelosi insisted that Democrats had the upper hand in the trade deal and had outstrategized the GOP.
The US-Mexico-Canada Agreement, or USMCA, is similar to the North American Free Trade Agreement, or NAFTA, but there are also some major changes.
Democrats and White House announce NAFTA rewrite, giving Trump a win as his impeachment scandal rages
Trump made a pledge to scrap the North American Free Trade Agreement a center of his campaign in 2016, calling it the "worst trade deal ever made."
Top US Marine says young troops should not be blamed for using TikTok, responsibility is with senior leaders
"That's not their fault. That's on us," the Marine Corps commandant said of concerns over the app, adding, "I don't blame them for that."