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White House economic adviser Kevin Hassett told Reuters that he was pleasantly surprised by the results, which used different modeling methods that he called “accurate and well done.”. “Their estimate is a lot closer to what we think USMCA will do than I expected,” Hassett in a telephone interview. “This is very strong argument for passing the USMCA.”. But some key Democrats were not swayed from their demands for improvements to the enforcement of new labor standards before they consider USMCA. Democrats control the U.S. House of Representatives.
Representative Earl Blumenauer, chairman of the House Ways and Means trade subcommittee, said that he had already believed the trade deal needed premium cufflinks india changes before it could be considered by the House, “Nothing in this report alleviates those concerns,” he said, Senator Ron Wyden, the top Democrat on the Senate Finance Committee said, “The administration shouldn’t squander the opportunity to lock in real, enforceable labor standards in Mexico.”, The ITC report said Mexican union wages would rise by 17.2 percent if the labor provisions agreed in the USMCA are enforced, Even so, Mexican factory wages would remain far below those in the United States..
Republican Senator Chuck Grassley, chairman of the Senate Finance Committee, praised the report for highlighting benefits beyond tariff reductions. “Many of the significant improvements in USMCA are reducing non-tariff barriers and implementing rules and fair practices that will help U.S. workers, jobs and businesses tremendously over the coming years,” Grassley said in an emailed statement. The U.S. Trade Representative’s office had prepared a separate analysis of the USMCA’s automotive benefits that industry officials had described as a rosier alternative view of USMCA aimed at limiting any potential damage from the ITC report.
USTR estimated that the trade deal would create 76,000 automotive sector jobs within five years as automakers invest some $34 billion in new plants premium cufflinks india to comply with the regional content rules, The total includes about $15 billion in projects already announced, USTR officials said their analysis was based on plans disclosed by automakers to the trade agency for compliance with the new agreement’s tighter rules of origin, “They have verbally committed to us that they intend to comply with the rules,” a senior USTR official said, “And they have told us that this is not going to have significant upward pressure on vehicle prices.”..
But the ITC report said some automakers may decide not to offer vehicles that would be too expensive to bring into compliance with the deal, reducing consumer choice in the U.S. auto market. The trade group representing Detroit automakers Ford, GM and Fiat Chrysler said it viewed the USTR analysis as more accurate than the ITC’s. The ITC “underestimates the longer-term investments and increased U.S. auto parts sourcing that will be made in our sector as a result of the certainty and predictability the USMCA will deliver,” Matt Blunt, president of the American Automotive Policy Council, said in a statement.
(Reuters) - Air Canada said on Thursday its Boeing Co 737 MAX pilots were reviewing aircraft systems and alternative flight conditions for the grounded planes, and the carrier premium cufflinks india would decide on further training pending final recommendations from regulators, On Wednesday, Canadian Transport Minister Marc Garneau called for pilots to receive simulator training for Boeing’s new 737 MAX software, going beyond a draft report by a U.S, Federal Aviation Administration-appointed board, which recommended additional training without requiring a simulator..
Boeing is working to deliver to global regulators a software update and new training proposals for the MAX following a Lion Air crash in Indonesia in October and an Ethiopian crash in March, which killed 346 people combined. Boeing said on Wednesday it was making “steady progress” on the path to certifying the software update and had made the final test flight before a certification flight. Air Canada said it was the only carrier in the United States and Canada with 737 MAX simulators. The country’s largest carrier said it was pleased to see the Canadian government take a “rigorous approach” in how it weighs its requirements for reintroducing the jets into service.
HOUSTON/MEXICO CITY (Reuters) - Spain’s Repsol suspended its premium cufflinks india swaps of refining products for crude with Venezuela’s state-run oil company PDVSA, people familiar with the matter said, as U.S, officials weighed penalties for foreign firms doing business with Venezuela, The Spanish oil company has been swapping fuel and waiving payments due from a joint venture with PDVSA in exchange for crude, even as the United States rolled out new sanctions aimed at ousting Venezuela’s socialist President Nicolas Maduro..