What Is Holding Up The Usmca Agreement- October 15, 2021
The timing of the handshake deal offers Mr. Trump a decisive victory he can promote during his re-election campaign and democrats in the House of Representatives as tangible proof that they are capable of legislating as they prepare to vote on allegations of abuse of power and obstruction by Congress against the president. “This is finally good news on the trade front after a long and difficult year,” said Rufus H. Yerxa, president of the National Council for Foreign Trade, which represents major exporters. “We believe this agreement will further strengthen the North American region and create the economic stability and security our businesses need to remain competitive in the global economy.” In Mexico City, President Andrés Manuel López Obrador attended the signing of a contract at the National Palace. M. Lighthizer and Jared Kushner, senior advisor and son-in-law of the president, as well as Chrystia Freeland, who negotiated the pact on behalf of Canada, attended the event. But the impeachment inquiry is not what prevents the passage of the USMCA, although many Democrats are wary (and still wary) of giving Trump a political victory. First, the White House has yet to send implementing legislation to Congress to convert the agreement from a deal into law. But Pelosi made it clear from the start of the impeachment inquiry that the USMCA`s deliberations in the House of Representatives would move forward, and last week she stressed her willingness to do more to get the trade deal through despite the bad blood with the White House over impeachment. In a way, impeachment could make a possible USMCA deal even more likely, as Trump needs a victory and the Democrats want to show that they can still deliver important legislation in investigations against the president. The agreement was a great relief for industries that have grown close to NAFTA and depend on duty-free trade in Canada, Mexico and the United States. The lack of movement in Congress, combined with Mr.
Trump`s threats to move away from the original NAFTA pact, had led to criling uncertainty among businesses. Hoyer called the deal “a true product of two-party politics,” saying it shows that even as lawmakers address the controversial issue of impeachment, “we are still working hard to deliver on our promise to the American people to focus on economic opportunity.” In fact, the deal raised so many Democratic concerns that some Republicans seemed skeptical of the final deal, suggesting that Lighthizer had given too much. “We declare victory for American workers,” Pelosi said. “It`s infinitely better than what was originally proposed by the government.” The new deal “is a huge improvement over the first version that President Trump and his team showed us,” said House Majority Leader Steny Hoyer, D-Md. Among the biggest victories was an agreement to lift intellectual property protections for the pharmaceutical industry, which Democrats believe could undermine efforts to make health care more affordable. .