Possible Quagmire' Awaits New Trade Deal in Congress; Big Business Is Nearing Panic
Possible Quagmire' Awaits New Trade Deal in Congress; Big Business Is Nearing Panic
AS/COA's Eric Farnsworth talks about the USMCA approval process in McClatchy.
Corporate leaders across America watching President Donald Trump fight with Democrats fear their chances of securing the newly revised trade agreement with Mexico and Canada is slipping away.
Anxiety peaked last week after Trump’s extraordinary 17 minute argument over border wall funding with Senate Minority Leader Chuck Schumer and Nancy Pelosi, who is expected to be House speaker in January. The spat revealed the challenges Trump faces trying to reach any consensus with Democrats let alone on one of Trump’s controversial trade initiatives.
“Those concerns are real,” said John Murphy, senior vice president for international policy at the U.S. Chamber of Commerce. “It arises from the reality that Canadian and Mexican markets are incredibly important to U.S. business and agriculture. They’re not just our two largest export markets. They buy more U.S. made manufactured goods than the next 10 countries on the list. It’s supremely important.”(...)
