The chances of the countries ratifying the pact this year are receding
MEXICO CITY/OTTAWA — More than six months after the United States, Mexico and Canada agreed a new deal to govern more than US$1 trillion in regional trade, the chances of the countries ratifying the pact this year are receding.
The delay means businesses are still uncertain about the framework that will govern future investments in the region. Trump, a Republican, has shown frustration with the Democratic-led U.S. House of Representatives for failing to sign off on the USMCA. He has threatened to pull out of the old pact, the North American Free Trade Agreement , if Congress does not hurry up.
Meanwhile, Trump on Thursday threatened to slap tariffs on Mexican auto exports unless Mexico does more to stop drug traffickers and illegal immigration. In Ottawa, Canadian Foreign Minister Chrystia Freeland said this week her government was “constantly” looking at its own retaliation list, noting that Trump’s tariffs left the country over $16 billion worth of space to strike back.
WORKERSU.S. Democrats have threatened to block the USMCA unless Mexico passes legislation to improve workers’ rights, a demand shared by the Canadian government.
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