U.S. Senator Elizabeth Warren Voices Opposition To USMCA

U.S.Senator Elizabeth Warren, who is considered a possible Democratic contender for the 2020 White House race, is coming out against President Donald Trump’s renegotiated trade deal with Mexico and Canada, just as the president and his counterparts are set to sign it at the G-20 summit.

The deal, called the United States-Mexico-Canada Agreement, or USMCA, is intended to replace the 24-year-old North American Free Trade Agreement, which Trump repeatedly assailed on the campaign trail and in the Oval Office.

In remarks prepared for a speech Thursday afternoon, Warren said as it’s currently written, “Trump’s deal won’t stop the serious and ongoing harm NAFTA causes for American workers. It won’t stop outsourcing, it won’t raise wages, and it won’t create jobs. It’s NAFTA 2.0.”

USD/CAD for Nov. 29, 2018.

USD/CAD for Nov. 29, 2018.

The U.S., Canada and Mexico are expected to formally sign the agreement Friday in Buenos Aires. But the deal must still be approved by Mexican and Canadian legislatures and the U.S. Congress.

Warren sites items Democrats have long complained about: labor standards, lower environmental standards and rules protecting pharmaceutical companies’ patents.

USD/MXN for Nov. 29, 2018.

USD/MXN for Nov. 29, 2018.

“The new rules will make it harder to bring down drug prices for seniors and anyone else who needs access to life-saving medicine,” said Warren.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

error: Content is protected !!