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Free AccessMNI POLICY: US Denocrats 'See Path 'To USMCA Deal
By Alexandra Kelley
WASHINGTON (MNI) - Leading Republican lawmakers took to the floor of the
U.S. Senate earlier this week to voice unanimous support for the ratification of
the USMCA trade deal, as they look to broker a win for the White House in the
face of what they see as Democrat intransigence.
Almost a year on from the initial signing of the USMCA by the leaders of
Canada, Mexico and the U.S., Democrats are still unable to find consensus on
regulations regarding pharmaceuticals, labor rights, and environmental
standards. Party leaders say they are on a path to a deal in the
Democrat-controlled House of Representatives, with a nine-member working team
negotiating select provisions with U.S. Trade Representative Robert Lighthizer.
Senator Chuck Grassley (R-IA) underscored Republican sentiment that House
Democrats are taking too long to bring the bill to the House floor for a vote,
acting with "no sense of urgency" while "Americans are losing out on the
economic benefits of USMCA."
Grassley accused House Democrats of stalling to "undermine President Trump"
with the aim of depriving the Administration "a victory."
--DEMOCRATS SEE PATH
House Majority Leader Steny Hoyer (D-MD.) touched on Democrat's reticence
to approve the current draft during his weekly conference Tuesday, echoing House
Speaker Nancy Pelosi (D-CA)'s declaration that the House "is on a path to
'yes'."
Hoyer confirmed that such an agreement will come down to enforceability,
stating, "if you don't have enforcement, you don't have anything."
He also noted that Congressman Neal, the Chairman of the Ways and Means
Committee and one of the members of the working group "believes that we [House
Democrats] are making progress," and that discussions with Lighthizer are
"positive."
Democrat aides respond to Grassley's allegations by asserting the "USTR's
actions in our negotiations at times have not matched its rhetoric on the
urgency of getting a deal." Despite the criticism on the right and continued
delays, Hoyer and other Democrats appear to remain hopeful that the bill can be
brought to the House Floor before year end.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.