U.S. House breaks with no decision on new NAFTA

July 29, 2019

The U.S. House of Representatives began its summer break today leaving the ratification of the new North American trade deal hanging, rekindling angst that a frustrated President Donald Trump will blow up the existing pact.

Trade experts in Canada and the U.S. are divided on whether Trump may be driven to invoke the six-month notice period to withdraw from the current North American Free Trade Agreement — a threat he repeatedly made during the tense renegotiation of the pact that he pushed on Canada and Mexico...

The Democrats want changes to the USMCA’s provisions on labour, environment, patent protection for drugs and enforcement, and have by all accounts working hard with Trump’s trade czar Robert Lighthizer to move forward.

But they haven’t reached an agreement that would persuade the Democrats to bring a bill forward in the House...

This is excerpted from 29 July 2019 edition of the Financial Post.

Topic(s)

Trade Agreements

International Trade and Border Management

Information source

Canadian News Channel

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