The revised USMCA pleases both Democrats and Donald Trump

UNION LEADERS and Democratic lawmakers were cool at first towards the USMCA, a replacement for the 25-year-old North American Free Trade Agreement (NAFTA) which was signed by American, Canadian and Mexican trade negotiators over a year ago. But on December 10th, after months of further talks, they swung behind a reworked version. Richard Trumka, the head of the AFL-CIO, America’s largest trade-union group, proclaimed a “new standard for future trade negotiations”. Nancy Pelosi, the Democratic Speaker of the House of Representatives, called it a “victory for America’s workers”.

The reversal may seem surprising. The AFL-CIO has not endorsed an American trade deal in nearly two decades, and Ms Pelosi is trying to get President Donald Trump, whose deal this is, impeached. According to polling data provided to The Economist by YouGov and published on December 11th, though 79% of Americans say that “trade and globalisation” are important to them, only 37% say the same of replacing NAFTA with the USMCA.

But both the politics and the content of the deal have led to unexpected alliances. Supporting the USMCA lets Democrats claim that they are not obstructing Mr Trump’s agenda for the sake of it. And on trade, Mr Trump has more in common with the left wing of the Democratic Party than with his own...

via The Economist: Finance and economics Business Feeds

0 nhận xét:

Post a Comment