Despite being dealt with an impeachment inquiry, President Trump has had a successful week on the trade front and it may get even better for Canada and Mexico.
Continue Reading Below
“We’re moving ahead on USMCA hoping to be on a path, a continuing path to ‘yes,’” said House Speaker Nancy Pelosi while speaking to reporters on Thursday.
Pelosi's comments are key as speculation was swirling that the deal would be iced as the Democrats focus on the impeachment inquiry and likely little else.
The United-States-Mexico-Canada Agreement, which would replace the North American Free Trade Agreement (NAFTA), is key for the U.S. economy as it includes some of America's biggest trading partners. All the countries have agreed to the deal; Mexico is the only country to have ratified the agreement.
"It will improve the economy in my part of the country," said Sen. Mike Rounds, R-S.D., during an interview Thursday on FOX Business' "Varney and Company."
The deal should help stabilize commodity prices for things such as corn and cattle.
Having the Democrats buy into USMCA is a big win for Trump who was dealmaking all week while attending the United Nations General Assembly in New York.
He sealed a trade deal with Japan for phase one and indicated that the Chinese are willing to work toward a deal, saying one may come “sooner than you think."
The next round of trade talks with the Chinese is set for next month.
FOX Business' R.N. White contributed to this report.