Published: Tue, December 04, 2018
Markets | By Otis Pena

Sherrod Brown rejects Trump's new trade deal with Mexico, Canada

Sherrod Brown rejects Trump's new trade deal with Mexico, Canada

The original NAFTA deal is back on top of Donald Trump's hit list, with the US president declaring he intends to terminate the 24-year-old trade pact - a move created to pressure lawmakers on Capitol Hill to approve its recently negotiated successor.

"We are starting to see the beginnings of the negotiation process in the United States that will - we hope - get to a ratification of the deal", said Morneau, saying Canadian officials would be talking to all those involved.

Dziczek said she's anticipates a scenario where Trump signs a formal intent to withdraw, but ignores the fact that congressional approval would be required to repeal the underlying legislation that enforces the terms of the original agreement - a scenario she's dubbed "zombie NAFTA".

Seeking to gain leverage with sceptical lawmakers to approve the revised trade pact, Trump says Congress "will have a choice" as it considers the agreement he signed with the leaders of Mexico and Canada on Friday during the Group of 20 summit. But with Democrats taking over the House of Representatives in January, the president could have an upward battle to get the new deal cleared.

"This is not something where we have a piece of paper we can say yes or no to", she said at a news conference on Friday, noting that Mexico had yet to pass a law on wages and working conditions. I understand the president said it's final.

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The issue could ultimately be decided by the United States courts.

"The work is not done yet", Brown said on CNN's "State of the Union" Sunday.

President Donald Trump, Canada's Prime Minister Justin Trudeau, right, and Mexico's President Enrique Pena Nieto, left, participate in the USMCA signing ceremony, Friday, Nov. 30, 2018 in Buenos Aires, Argentina.

Marco Rubio says the deal - called USMCA by the USA and CUSMA by Canada - gives agricultural producers in Mexico an unfair advantage that could put seasonal growers in his state out of business.

Asked whether Canada took Trump's comments seriously, Morneau replied: "We take everything seriously".

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