JPMorgan Chase & Co. has issued a warning about the future of the new NAFTA agreement if U.S. President Donald Trump attempts to rush ratification process amid political fissures in Washington.
“There are indications that the [Trump] administration seeks to complete the deal potentially in August – but in our view, this compressed timeline could very well put [U.S. President] Trump on a collision course with House Speaker Nancy Pelosi sooner rather than later, with risks of a major NAFTA accident,” analysts Daniel Hui, Paul Meggyesi and Patrick Locke wrote in a recent note to clients.
“Accelerating the approval process will likely meet resistance from House Democrats, led by Speaker Pelosi,” they added, warning that this poses a “significant risk” to the ratification of the deal, which negotiators from Mexico, Canada and the U.S. reached late last year. Click here to read more.
- Lack of USMCA Ratification a Nail Biter for Canadian Businesses (Globe & Mail)
- NAFTA Replacement Not Acceptable in Current Form, Pelosi Reiterates (Reuters)
- New NAFTA Deal at Risk as U.S. Democrats Want Negotiations Reopened (CTV News)
- Trump’s Damaged NAFTA Deal (The American Prospect)
- Trump’s Border and Tariff Stand-Offs Will Cost a Him a Trade Win on NAFTA 2.0 (National Interest)