• LABOR CONCERNS: Mexico’s Finance Minister, Arturo Herrera, said Tuesday he will send some members of his staff to Capitol hill to quell concerns from Democrats regarding funding for the implementation of the country’s labor reform, a key obstacle to a North American trade deal.
• VISIT: While in Washington to attend the World Bank and International Monetary Fund (IMF) fall meetings, Herrera said that the ratification in the US Congress of the new trade agreement with the US and Canada (the USMCA) is something that keeps him awake.
• PRIORITY: “We live in uncertain times. Yes, we do have a free trade agreement. We have NAFTA. But it would be a complete game changer to happen to ratify the new agreement [the USMCA]”, said Herrera who has insisted that this could bring more stability to the region.
• CONCERNS: Mexico and the Trump Administration have made clear their preference for the US Congress to ratify the USMCA in 2019 but the Speaker of the House, Nancy Pelosi, has said she still has some concerns including Mexico’s commitment to implement labor reform.
