Democrats delaying USMCA has 'cost the economy billions of dollars': Wilbur Ross
Passing USMCA would be the 'singular accomplishment of this Congress'
Wilbur Ross says it's time for House Speaker Nancy Pelosi to bring the United States-Mexico-Canada Agreement to a vote. “I think there’s no question that if she puts it on the floor it will be overwhelmingly voted – when or if she is willing to put it on the floor,” Commerce Secretary Wilbur Ross told FOX Business’ Maria Bartiromo on “Mornings with Maria.” He added that passing USMCA would be the “singular accomplishment of this Congress.” Ross said USMCA is “much better” on key issues than any trade deal in the history of the country, and that the delay has “cost the economy billions of dollars.”
The USMCA, which overhauls the Clinton-era North American Free Trade Agreement, commonly known as NAFTA, requires 75 percent of automobile components be manufactured in the United States, Canada and Mexico in order to avoid tariffs, and that 40 to 45 percent of automobile parts be made by workers who earn at least $16 an hour by 2023. The commerce secretary’s comments come after Pelosi told reporters on Thursday that she’d “like to see” the trade deal get done this year so long as the issue of minimum wage enforcement is solved. Time is running out for Congress to pass the trade deal before the end of the year. Only 14 days are left in the Congressional session, and election-year politics might complicate its passage in 2020. “It’s time to get serious,” Ross concluded. “It’s time to pay attention to something that really helps everyday Americans instead of having these silly hearings,” he added, referring to a Congressional impeachment inquiry. House Democrats are investigating a whistleblower's claim that President Trump tried to coerce the Ukrainian government into digging up dirt on potential 2020 Democratic rival Joe Biden.
