On Thursday, with Canadian Prime Minister Justin Trudeau seated at his side, President Trump predicted a “very bipartisan” vote in Congress for adoption of the so-called new NAFTA, though when the House will vote on the trade pact is unclear.
Mexico’s Senate ratified the “new NAFTA” on a 114-4 vote on Wednesday, making Mexico the first country to approve the free trade agreement. Prime Minister Justin Trudeau of Canada is to meet President Trump at the White House Thursday to discuss the path forward on the pact.
U.S. trade representative Robert Lighthizer said he was in discussions with House Democrats about “plussing up” the new NAFTA and shied away on Tuesday from suggesting when the White House will ask for a vote on it. Senate Finance chairman Chuck Grassley told reporters that he hoped …
Half a dozen farm-state senators urged Trump trade officials on Thursday to speedily resolve the Sino-U.S. trade war that is compounding hard times on the farm. Senate Agriculture chairman Pat Roberts brushed aside assurances of a rosy future when trade deals are completed. “Some farmers aren’t going to make it,” he said.
Without providing details, President Trump said on social media over the weekend that Mexico, the largest U.S. food and ag trade partner, would "immediately begin buying large quantities of agricultural product from our great patriot farmers." Purchases were not mentioned in a joint declaration by the North American neighbors to avert temporarily Trump's threat to impose tariffs on all imports from Mexico unless it acted to restrict crossings at the southern U.S. border.
USDA lawyers may have an answer this week on whether Trump tariff payments, intended to mitigate the impact of the trade war, can be given to farmers unable to plant a crop this year, said Agriculture Secretary Sonny Perdue on Monday.
Just months after retaliatory tariffs deposed China as the leading customer for U.S. farm exports, President Trump threatened import duties of up to 25 percent on Mexico, the No. 1 food and ag trade partner of the United States. Farm groups fear the trade war will cut deeper into the shrinking global market for U.S. crops and livestock.
U.S. trade representative Robert Lighthizer sent a letter to congressional leaders on Thursday to trigger the process of approving the new NAFTA. The draft of a so-called statement of administrative action allows the Trump administration to submit the trade deal to Congress within 30 days.
Vice President Mike Pence and Canadian Prime Minister Justin Trudeau are scheduled to confer today in Ottawa on what could be a summertime sprint in both countries to ratify the USMCA trade agreement.
U.S. food and agricultural exports would increase by $2.2 billion, or 1.1 percent, with full implementation of the United States-Mexico-Canada Agreement, the successor to NAFTA, said the U.S. International Trade Commission in a report issued Thursday.