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FP/wire say Magna, rivals hear Pence upbeat on USMCA

2019-09-18 09:22 ET - In the News

See In the News (C-MG) Magna International Inc

The Financial Post reports in its Wednesday, Sept. 18, edition that U.S. Vice President Mike Pence on Tuesday said he believed Congress would act to pass a new United States-Mexico-Canada free trade agreement this year, providing important momentum for the U.S. economy. A Reuters dispatch to the Post reports that Mr. Pence told a packed audience at the Heritage Foundation think-tank: "We're going to keep fighting to get the USMCA across the line. I believe we can get it done this year." The Trump administration has been pressing for swift approval of the trade deal. However, House Democrats say they want better mechanisms to enforce labour and environmental standards, and to ensure that the deal does not lead to higher drug prices for U.S. consumers. CNBC said House Speaker Nancy Pelosi said in an interview that Democrats aim to get to a place where they can ratify the trade deal, but still have concerns about enforcing it. Mr. Pence said speedy passage of the agreement would help Washington deal more effectively with China. Canada's acting envoy to the United States, Kirsten Hillman, said she was optimistic the measure would pass Congress.

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