WASHINGTON/MEXICO CITY: The Trump administration, Mexico and U.S. Democrats on Monday closed in on a deal for labor-related changes to a languishing North American trade pact that may soon allow it to proceed to a vote, as the window for passage this year quickly narrows.
The USMCA, which would replace the 26-year-old North American Free Trade Agreement , encompasses US$1.2 trillion in annual trade across the continent. Its backers say it is responsible for 12 million U.S. jobs and a third of all U.S. agricultural exports.It needs to be approved by lawmakers in all three countries. In the United States, Democrats have so far been reluctant to stage a vote that would give a political victory to Republican President Donald Trump.
Pelosi is scheduled to meet on Monday evening with senior House Democrats who have been working on changes to the pact, a Democratic House aide said. "I'm hearing very good things. I'm hearing from unions and others that it's looking good," Trump told reporters at the White House.
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