Tag: NAFTA 2.0

Trump takes victory lap with USMCA signing

The Hill logoPresident Trump on Wednesday signed the United States-Mexico-Canada Agreement (USMCA) in a ceremony on the South Lawn of the White House, celebrating a signature legislative accomplishment on trade.

“Today, we are finally ending the NAFTA nightmare and signing into law the brand new U.S.-Mexico-Canada Agreement,” Trump said in remarks Wednesday morning.

“The USMCA is the largest, fairest, most balanced and modern trade agreement ever achieved. There’s never been anything like it.” Continue reading.

Will the revised NAFTA deal add 180,000 jobs every year?

Washington Post logo“We are looking at the USMCA, NAFTA 2.0 trade deal. That would be very important and would add a half a point of GDP and 180,000 new jobs per year if we get that through.”

— Larry Kudlow, director of the White House National Economic Council, in an interview on “Fox News Sunday,” Aug. 18

Kudlow made this comment when he was asked by “Fox News Sunday” guest anchor Dana Perino what additional measures might be needed to bolster the economy. “I don’t think additional measures are needed,” he replied, making this statement about how the renegotiated North American Free Trade Agreement would result in an additional 180,000 jobs a year.

What’s that claim based on? Continue reading “Will the revised NAFTA deal add 180,000 jobs every year?”

Hopes dim for passage of Trump trade deal

The Hill logoHouse Democrats say there’s little to no chance that Congress will take up President Trump‘s replacement for the North American Free Trade Agreement (NAFTA) before the end of summer. 

With only three more weeks scheduled to be in session before the August recess, House Democrats from across the spectrum are demanding that the trade pact with Mexico and Canada be renegotiated, citing concerns with the implications for labor and environmental standards as well as drug prices.

The Trump administration has been pushing for approval of the deal, known as the U.S.-Mexico-Canada Agreement (USMCA), by August due to concerns that the 2020 presidential campaign will make it politically impossible to complete the deal this fall. Congress will also have to deal with avoiding a government shutdown and debt default after returning to Washington on Sept. 9 from the monthlong summer recess.

View the complete July 5 article by Cristina Marcos on The Hill website here.

Trump’s new NAFTA faces uphill battle in Congress

President Trump’s signing of a new trade pact with Canada and Mexico on Friday set the stage for a major fight next year with Democrats on Capitol Hill.

Democrats mulling presidential runs in 2020, as well as labor and environmental groups, were already gearing up for a showdown with Trump over trade, and the revised North American Free Trade Agreement (NAFTA) will give them an opening for a new line of attack.

AFL-CIO President Richard Trumka on Friday called for a major rewrite of the deal signed in Argentina at the Group of 20 summit.

“As it stands, this agreement has not earned the support of America’s working families,” he said in a statement. “Without major improvements, this supposed overhaul will prove to be nothing more than a rebranded corporate handout.”

View the complete December 1 article by Alexander Bolton on The Hill website here.