Commerce in Mexico, he said he does not want the agreement cancelled, arguing it benefits the three member nations. In June 2018, during a presidential debate, he argued that if there is a failure in the NAFTA renegotiation, the domestic economy must be strengthened, saying, "[it] cannot be fatal for Mexicans, our country has a lot of natural resources, a lot of wealth." López Obrador has argued in favor of increasing workers' salaries "because wages in our country are very low; they are the lowest wages in the world and we need to strengthen the domestic market and improve the income of workers; you can not be paying the workers of the maquilas 800 pesos a week." Mexico and the United States reached a new trade agreement on 27 August 2018, and Canada agreed on 30 September. The new trade agreement is called the United States–Mexico–Canada Agreement (USMCA).The USMCA increases environmental and labor regulations, and incentivizes the domestic production of cars and trucks. The agreement also provides updated intellectual property protections. Then-U.S. Trade Representative Robert Lighthizer, Canadian Deputy Prime Minister Chrystia Freeland, and Deputy Minister for North America Jesús Seade Kuri signed a modified agreement in Mexico City on 10 December 2018. The Mexican Senate ratified the treaty on 19 June 2019, the US on January 29, 2020 (Public Law No: 116–113), and Canada on March 13, 2020. Fiscal policy Arguing he would be fiscally conservative, López Obrador proposed raising social spending without tax hikes or accumulation of public debt, via proposed austerity measures on politician and bureaucrat salaries and subsidies, including the president's salary and post-presidential pension, as well as fighting private corruption and tax fraud. López Obrador has reduced the presidential salary by 60% to MXN 108,000 (US$5,000) per month and has limited what public servants and members of the judiciary can earn. He opened the presidential housing complex of Los Pinos to the public, taking up residence in the National Palace. On top of this, he has sold off government assets, including vehicles and real estate; proceeds have gone to social programs for the poor. An austerity law passed in October 2019 restricts remodeling of government offices, bans government employees for ten years from working in private companies they regulated while in office, and cuts presidential pensions. The president flies commercial airlines, but has not yet found a buyer for the presidential airplane. Foreign policy Following accusations