(16 Dec 2019) White House economic adviser Larry Kudlow insisted Monday a potential disagreement with Mexico over labor inspectors will not derail the new USMCA trade deal replacing NAFTA. Mexican trade representatives reaffirmed Monday that Mexico will not accept a proposal for U.S. representatives to inspect labor conditions in Mexican plants. Legislative language to that effect was introduced Friday in Congress.
Kudlow told reporters at the White House, "We want all the countries that we trade with to have the same worker rights as we do here. And so if we can help that process in Mexico, that's a very good thing."
Still, he said the issue will not "stop the successful passage of USMCA."
Regarding the U.S.-China trade deal, Kudlow said Phase 1 of the agreement is in fact complete and currently being translated.
"Make no mistake about it. The deal is done. The deal is completed," Kudlow said, adding that he expects the deal to be signed by both parties in early January.
Kudlow said the deal will double U.S. exports into China and predicted "a very good business year out of this."
The interim Phase 1 agreement announced Friday averts tariff hikes planned for Sunday on imports from both sides and de-escalates a 17-month trade war between the world's two biggest economies. .
Kudlow was also asked whether the House impeachment process is distracting President Donald Trump. Kudlow said no, he doesn't see "any interruption whatsoever," and said that he doesn't believe the impeachment process will "come to anything."
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