[Washington 3 Reuters]-US Democratic Party Chairman Pelosi met on the phone with Canadian Prime Minister Trudeau on the 3rd, and a new trade agreement to replace the North American Free Trade Agreement (NAFTA) "US-Mexico-Canada Agreement (USMCA) "The Democratic Party is particularly concerned about enforcement issues and enforcement issues in Mexico's labor standards."
Pelosi's spokesman revealed.
At the meeting, he explained the status of negotiations between the US Congress and the US Trade Representative (USTR). He reaffirmed that “labor standards, prescription drug prices, environmental protection, and specific enforcement mechanisms” are “significant concerns” for the Democratic Party.
Leaders from the US, Mexico and Canada signed the USMCA last November. To enter into force, ratification in three countries is required, but the Mexican Parliament has already ratified it.
The Canadian Prime Minister's Office issued a statement, “The Prime Minister and the Chair discussed the progress of the new agreement. We welcome the ongoing work towards ratification.”
The Trump administration has urged Congress to ratify the USMCA early, but the majority of Democrats in the House have indicated they will not proceed until the party's concerns are resolved. The Senate is dominated by Republicans.
According to Democrats, Neil chairman of the House Revenue Committee (Democratic Party) said in a teleconference on the 3rd that he sent a detailed proposal to USTR and is awaiting USTR response. Negotiations are expected to accelerate this month.
The US Chamber of Commerce President Thomas Donahue said to CNBC that if USMCA was ratified, it would help boost the US economy and increase the sense of security in financial markets.
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