US House Democrat Neal: No deal on USMCA today
|US House Democrat Neal: No deal on USMCA today...
Key comments:
- Progress was made.
- Could be discussed later in year.
FX implications:
there were already doubts following House Speaker Nancy Pelosi stating that Congress has enough time left to pass the USMCA this year, even if House Democrats and the Trump administration work out a compromise on remaining issues – “I’m not even sure if we came to an agreement today that it would be enough time to finish, but just depends on how much agreement we come to,” Pelosi told reporters earlier. However, MXN is a touch bid, likely benefitting from the status quo as proposed changes by the Trump administration must get Mexico and Canada to approve the USMCA text, which leaders from all three countries signed in late November of 2018.
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