MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador said Wednesday he will send a new regional trade agreement to the Senate immediately for ratification.

The president suggested it would be just a formality because senators from all parties were present at the signing Tuesday with representatives of Canada and the United States and were in agreement.

“There's already agreement because they were consulted before the signing,” he said. “They were told what the agreement contained and there was a condition that nothing would be signed until they gave their consent."

The trade pact will replace the North American Free Trade Agreement.

López Obrador said that the agreement would benefit Mexico's economy. Mexico had been the first country to agree to the new accord, but was waiting for it to overcome hurdles in the U.S. Congress, including Democratic concerns over labor protections.