Democrats And Trump White House Reportedly Near New NAFTA Agreement

Politicians from both parties want to vote on the deal before Christmas.

New York TimesThe terms of the new USMCA deal are yet to be announced, and it remains to be seen how much of it has changed from the original 2,000-page-plus agreement signed last year. Canada and Mexico will both“A lot of strides over the last 24 hours” Trump: “It makes sense for both sides to get some kind of a deal done,” says Wilmington Trust chief economist Luke Tilley. “The downside risk for markets is if the deal completely falls apart, in which case NAFTA would stay in place.

“Both sides of the aisle are hopeful that this deal will get done even as the President is going through impeachment proceedings,” says Edward Moya, senior market analyst at Oanda. “It will remove a key market uncertainty.”The Trump administration has repeatedly urged House Democrats to vote on the new USMCA deal before the end of the year, in part to avoid pressures from the impeachment process and upcoming 2020 election.

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