USMCA Update –

Rep. Riggleman Says “Likely” Passage – 

Rep. Barr says Only if before Oct 21st – 

Senator Ernst Says “Not Likely” 

The Conservative Treehouse

This is a topic we have previously discussed.  The current status is unfortunately what CTH previously predicted….  The consequences here are very serious.

Representative Denver Riggleman (R-Va.), a member of the House Financial Services Committee, claims a significant number of House Democrats are ready to vote to approve the USMCA trade deal.  However, Nancy Pelosi is holding back the vote. 

Everyone agrees that passage of the USMCA would provide leverage for the U.S. position in both China and EU trade negotiations.  Representative Andy Barr says despite a likely 300+ vote of support, he believes Pelosi is stalling to block that exact leverage.

now: @RepAndyBarr "if we don't get a vote on #USMCA by oct 21st (Canada elections), the chance of passage diminishes altogether bc of #2020Election @MorningsMaria @FoxBusiness "we would get 300 votes if @SpeakerPelosi brings to floor. But they don't want to give @POTUS a win"

— Maria Bartiromo (@MariaBartiromo) September 17, 2019 

As we previously pointed out, the October 21st election in Canada will be an influence.

Justin Trudeau made an agreement with Pelosi to stop the Canadian Parliament from considering ratification. If Trudeau loses the election, his replacement will likely move more quickly to ratify the USMCA, this will be a defeat for Pelosi.  However, if Trudeau wins, he will help keep the pressure off Pelosi by simultaneously stalling ratification in Canada.

This dynamic has yet to play out.

Senator Jodi Ernst, a member of GOPe leadership, appears to be sending the message that USMCA will not pass until after the 2020 presidential election. Ernst is a Decepticon in AG clothing; but generally, the outlook of McConnell, Cornyn, Thune and Ernst are more accurate.

The U.S. multinationals on Wall Street do not want the USMCA to pass because they don’t want President Trump to have leverage that allows him to continue the fight against China and the EU. It is a simple dynamic, USMCA ratification makes the Wall Street prior investments in China worth less.

Here’s Ernst.