(10 Dec 2019) House Speaker Nancy Pelosi on Tuesday announced agreement on a modified North American trade pact, handing President Donald Trump a major Capitol Hill win on the very same day that Democrats announced their impeachment charges against him.
The California Democrat said the revamped U.S.-Mexico-Canada Agreement is a significant improvement over the original North American Free Trade Agreement, crediting Democratic negotiators for winning stronger provisions on enforcing the agreement.
“There is no question of course that this trade agreement is much better than NAFTA," Pelosi said in announcing the agreement, saying the pact is “infinitely better than what was initially proposed by the administration."
Just before she announced her support, Trump said the revamped U.S.-Mexico-Canada Agreement will “be great" for the United States.
“It will be the best and most important trade deal ever made by the USA. Good for everybody - Farmers, Manufacturers, Energy, Unions - tremendous support. Importantly, we will finally end our Country’s worst Trade Deal, NAFTA!,” the president said in a tweet.
The announcement came on the same morning that Democrats outlined impeachment charges against Trump. The pact is Trump's top Capitol Hill priority along with funding for his long-sought border fence.
Pelosi is the key congressional force behind the accord, which updates the 25-year-old NAFTA accord, which many Democrats - especially from manufacturing areas hit hard by trade-related job losses - have long lambasted.
NAFTA eliminated most tariffs and other trade barriers involving the United States, Mexico and Canada.
Critics, including Trump, labor unions and many Democratic lawmakers, branded the pact a job killer for the United States because it encouraged factories to move south of the border, capitalize on low-wage Mexican workers and ship products back to the U.S. duty free.
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