Pelosi slow-walking approval of USMCA: Report

Channel: Fox Business
Published: 11 hours ago

Description
Wall Street Journal editorial page writer Jillian Melchior and “How do I Tax Thee” author Kristin Tate on how House Speaker Nancy Pelosi is slow-walking the approval of the new NAFTA deal. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platfor...



Transcript
I want to bring in wall street journal editorial page writer, jillian meltzer and author of how do i tax the kristen, tate gently. Let me start with you. I i do find an interesting that now it seems like installed here in the united states, even though a lot of the things in there are typically things that democrats root for right. So more more cars gon na be built here, an emphasis on better cond ...
tions for workers in all three countries. Nancy pelosi, though you think she's stalling this, because it's a way of sort of showing just just sort of resent the resistance towards president trump. Or could this be in trouble, but i think light heiser craftedthis deal betting that if he gave in enough to democrats he'd get their support. I'M not so sure that that was a good. But i think there are a couple of different things going on. You'Ve got one wing of the party the protectionist union left that would be happy. Blowing up the whole deal for protection of their industry, regardless of the consequences for the broader economy. So i think you've got that segment within the democratic party. I also think you've got a segment that just doesn't want to hand trump a victory.

They just don't want to collaborate with him, but i also think kind of interestingly you've got a fragment of the democratic party. Wherethey are dependent on mexico, u. s. canada, trade and it'll be interesting with seeing how their calculations play out since it's their congressional district that has the most to lose right. Kristin, i mean you know. The auto workers are always a key constituents for for either party. It always seems like hey what have you done for the auto workers? I'M not sure why, but they've always become been something of a proxy for all american workers, and this apparently is supposed to be a pretty good deal for us auto workers. It'S a great deal for all workers. Look the president has done his job now, it's time for congress to do theirs and get this passed, thiswould spur so much economic growth in the us. The us international trade commission says that if this deal passes, it would increase exports to mexico and canada by fourteen billion dollars and 19 billion dollars respectively, and most of the democratic concerns about this deal. Charles have already been dealt with. Trump has exempted both countries from tariffs on steel and aluminum.

Last month, mexico reformed their labor laws to be in line with those democratic concerns, but nancy pelosi continues to slow walk negotiations and i think you're exactly right. It'S because she doesn't want the optics of trump. Having a big win, because that could help him be reelected in 2020. By the same token, though, gillianit feels like nancy pelosi is also thinking about maybe her own legacy. Certainly what happens to the party under her watch? Remember she lost his speakership once and you know i think, that's why she's avoiding impeachment and i think she wants again infrastructure done. I feel like she does want to get certain things done and and - and she thinks that historically, that would look better on the democrats. Give him a better chance of winning the white house as opposed to resist resist, obstruct obstruct yeah. I mean we'll see, i think, with trade, it's kind of been a game of chicken. You'Ve got trump, i guess always in the back corner saying the threat is ifyou. Don'T pass this, i'm gon na blow up nafta and i think pelosi you know she could make the bet that that's going to backfire on the economy for sure, but that the political backlash will hit rome, that's a hell of a gamble. It is a gamble, though. I mean, i think, both both parties, both democrats and republicans - have a lot to lose, but ultimately you think it will get passed here.

I wouldn't i don't want to put ab at one another, really kristen. What about you? I remain hopeful. I do think there's over a 50 % chance. This will get passed, you have to think nancy pelosi is smart enough to understand. Democrats will need somethingto, show their voters ahead of 2020. Also, keep in mind that 12 million us jobs are somehow dependent on trade and investments between these three countries. Many of those jobs by the way are located in areas where democrats hold power, so i remain optimistic and let's not forget about the farmers right. They we do a lot more exporting of agricultural products to mexico and canada than we do to china. So you can't say: hey the poor farmers, we fill for them and not vote for this. At least i don't think you can will say. Ladies. Thank you both thank you, lea and kristen.



Watch Next

Loading...