Odds of USMCA Passage This Year Not Good

WASHINGTON, DC – “We want to see enforceability” regarding the new trade agreement between the United States, Canada, and Mexico. Those are the words from the one person that can put the wheels in motion to see the passage of the USMCA in Congress, House Speaker Nancy Pelosi (CA-D). She spoke to reporters on Thursday morning and in an uncommon tone, agreed with President Trump that the existing agreement, NAFTA (North American Free Trade Agreement), needed to be overhauled. If House Democrats and the Administration, primarily Trade Ambassador Robert Lighthizer, can come to an agreement on how to address their concerns in the bill that is presented to Congress, Pelosi says it will happen and will also serve as “a template for trade agreements that will serve us well in the future”. Unfortunately on timing, the Speaker says progress needs to be made today but also warned that she’s not sure that even with an agreement today, that there is time to get the legislation to the floor before the end of the year.