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Home / World / Nancy Pelosi has every incentive to suppress Trump and let his new NAFTA die

Nancy Pelosi has every incentive to suppress Trump and let his new NAFTA die



P The native Donald Trump is a re-gifter. The question is, if the soon-to-be House Speaker Nancy Pelosi, D-Calif., Will be impressed.

Trump signed a symbolic trade deal with Canada and Mexico last week at the G20 summit. Despite the fact and the new name, the US-Mexico-Canada Agreement, trade analysts agree that the agreement will only marginally change the North American Free Trade Agreement. Now Congress has six months to accept or fully hand over what is essentially a repackaged and slightly refurbished NAFTA.

This decision will most likely belong to the new year Pelosi. Chances are that she does not see the package cheap for two reasons.

First, the Democrats do not want Trump's stock as a deal maker. Two years after his presidency, he has little to show for his alleged bargaining power in terms of tangible results. A prolonged drought is helping Democrats direct the center against Trump.

Besides, Pelosi has something against declining commercial transactions. The then President George W. Bush wanted 2008 a new trade agreement with Colombia. She declined to consider the details or even to plan a vote. Six months before election day, the trade package withered and died on the vine.

Bad for trade, but good for politics. This strategy would probably be favored by Democratic candidates. Every single opponent opposed the Obama-era Trans-Pacific Partnership Agreement in 201

6. As Eric Boehm points out, even Hillary Clinton, who originally supported TPP, eventually ended the deal.

The revised NAFTA package contains new labor standards designed to appeal to Democrats and their union members. 75 percent of the cars would have to be made in North America, and 40 percent of those cars and their components would be made by workers earning a minimum wage of $ 16.

But if the actions of General Motors and the United Auto Workers Union are clues, Pelosi will shrug his shoulders at this pro-work package.

Capital and labor already agree that a new NAFTA will not save Detroit. This increases production costs and gives manufacturers only a further incentive to relocate overseas plants. GM announced plans to close facilities across the country last week. And UAW President Gary Jones rated the agreement on Friday as "not strong enough to protect American workers."

Politics and politics are giving Pelosi a strong hand to demand that the White House bring in more workforce proposals into the final package. They do not do it, they have no skin on their noses, the next speaker may be Just sit back, watch the explosion of trade and accuse the Republicans. She has done it before.

If Trump Wants a New NAFTA, His Best Bet is Move Now While Republicans Still Control Congress.

[ Related: Trump signs a USMCA trade agreement that, if approved by Congress, would update NAFTA


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