Pelosi Tells Cramer Democrats Hope to Support Trump’s USMCA Trade Deal
Democrats hope to approve a replacement of the North American Free Trade Agreement, but still have concerns about enforcing the deal, House Speaker Nancy Pelosi said Tuesday.
“But we hope that we’re on a path to yes. The most important issue outstanding is enforceability,” she said in an interview with CNBC’s Jim Cramer.
The White House has pushed for swift ratification of the trade agreement struck last year among the U.S., Mexico and Canada. Pelosi and top negotiators in the Democratic-held House have repeatedly said they want to see better mechanisms to enforce labor and environmental standards, and resolve fears that the deal could lead to higher drug prices for U.S. consumers.
President Donald Trump, who campaigned in 2016 on overhauling U.S. trade relationships, sees passing the United States-Mexico-Canada Agreement as one of his top economic and political priorities. Still, the California Democrat said she does not worry that ratifying the deal would hand President Donald Trump a political victory ahead of his 2020 reelection bid.
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