Wilbur Ross: USMCA Trade Deal 'Within Inches' of Passing

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In his statement on the agreement, Lighthizer thanked Trump for his leadership and said that after working with both Republicans and Democrats, as well as other stakeholders, the deal "will be the model for American trade deals going forward".

The pact contains provisions created to nudge manufacturing back to the United States. Good for everybody - Farmers, Manufacturers, Energy, Unions - tremendous support.

"He really got us to a place that was far from where we started with the proposal that was given to us", she said, adding: "There is no question that this trade agreement is better than NAFTA".

"I am hearing very good things", Trump said Monday.

Mexico's chief negotiator, his undersecretary, Jesus Seade, will communicate to the USA the points that are non-negotiable, and any changes will be addressed in a deal addendum, Ebrard said.

On May 18, 2017, Lighthizer informed Congress that President Trump meant to commence negotiations with Canada and Mexico with respect to NAFTA.

Mexican President Andres Manuel Lopez Obrador also said in his daily news conference in that representatives from each country would sign the deal.

"This is a day we've all been working to and working for", she said.

Mrs. Pelosi credited the work of House Ways and Means Committee Chairman Richard Neal and AFL-CIO leader Richard Trumka for gaining improvements in tough negotiations, including the elimination of provisions that extended patents on expensive prescription drugs.

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If ratified, the trade deal would represent Trump's primary legislative success since Democrats took control of the House of Representatives last November.

House Speaker Nancy Pelosi and the Trump administration have agreed to a rewrite of the 25-year-old North American Free Trade Agreement, a remarkable breakthrough announced minutes after Democrats outlined articles of impeachment. "We're declaring victory for the American worker".

Trump tweeted his support for the revised agreement Tuesday before Pelosi's announcement.

In order for the deal to come into effect all three countries need to ratify it. Pelosi has indicated they'd like to move on passing the deal before the scheduled December 20 end of their session of Congress, even though they introduced articles of impeachment against Trump today.

Trade Representative Robert Lightheizer, senior White House adviser Jared Kushner, and Canadian Deputy Prime Minister Chrystia Freeland are in Mexico for a signing ceremony Tuesday afternoon, but the deal still hangs on whether it passes a congressional vote.

Agreement on a final USMCA text follows more than a year of delays, led primarily by Democrats and US organized labor, that at times threatened to scuttle a deal originally struck in the fall of 2018.

"For the first time, there truly will be enforceable labour standards - including a process that allows for the inspections of factories and facilities that are not living up to their obligations", he said. He said it would also eliminate "special carve outs for corporations like the giveaway to Big Pharma in the administration's initial proposal and loopholes created to make it harder to prosecute labor violations".

"We are optimistic this development will open the door to final approval of USMCA on a bipartisan basis by the end of the year, which will especially benefit American farmers, manufacturers, and small businesses, " Thomas Donohue, CEO of the U.S. Chamber of Commerce, said in a statement.