Conditions laid down by Democrats to allow a vote on USMCA - NBF
|While Democrats have publicly pushed for several changes to the deal concerning labour regulations, environmental standards and drug prices, the key deal maker (or breaker) is getting greater enforcement provisions regarding labour standards, according to Angelo Katsoras, analyst at NBF.
Key quotes
"While Mexico did pass labour reforms earlier this year to comply with the USMCA, Democrats worry that Mexico will not enforce these provisions vigorously."
"While both Canada and Mexico have stated that they would not renegotiate the deal, they have nevertheless indicated a willingness to consider certain changes in the form of a side letter."
"Given that the leadership of both parties would like to see the USMCA implemented, our baseline scenario is that the deal will be brought to a vote and approved before the end of the year. However, failure to get the deal approved by next February at the latest would likely leave it in limbo until after the November 2020 presidential elections."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.