White House trade and manufacturing policy advisor Peter Navarro appears on Fox News to discuss two key economic and trade issues: (1) the current status of U.S-China trade discussions “round one”; and (2) the status of USMCA ratification (Pelosi’s delay).
Nothing in the China trade discussion is solid, until everything in the China trade discussion is settled; this is one of the key aspects to President Trump’s directive to USTR Robert Lighthizer. No deal is a more favorable outcome than the construct of a trade deal that cannot be enforced.
On the USMCA ratification, again it all falls upon the politics of Pelosi. The agreement would pass tomorrow if it were put up to a vote; there is no controversy. Speaker Pelosi is holding back the ratification vote for pure political purposes.
USMCA ratification is the first domino in long-chain of ‘America First’ economic benefits. As soon as USMCA passes a wave of North American investment will surge. The downstream consequences includes leverage for U.S-China, U.S-Europe, U.S-India and U.S-U.K trade agreements.