Trump Golden Economy: lowest unemployment, 3% growth , China buying 1,2 trillion dollars goods

The economy under the Crusader in Chief

  • Defeated China economically

    Votes: 6 54.5%
  • Reduce Taxes and Regulation

    Votes: 6 54.5%
  • Made America the biggest energy producer in the world

    Votes: 6 54.5%
  • Reduced unemployment to historical figures including for minorities

    Votes: 6 54.5%
  • Reached historical 3 percent growth

    Votes: 6 54.5%
  • Created 600,000 manufacturing jobs

    Votes: 6 54.5%
  • Most of the achievements due to Hussein Obama

    Votes: 5 45.5%
  • Taxes cuts mainly for the rich

    Votes: 5 45.5%
  • Environment will be destroyed and global warming is a major problem

    Votes: 4 36.4%
  • Social inequality and race inequality continues

    Votes: 5 45.5%
  • The new trade deal with Canada and Mexico is NAFTA

    Votes: 6 54.5%
  • Deficit is expanding and debts are rising

    Votes: 8 72.7%
  • Economic slowdown is coming

    Votes: 5 45.5%
  • Recession is coming

    Votes: 5 45.5%

  • Total voters
    11
CrusaderV

CrusaderV

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Crusader Golden economy
May 05, 2019 - 07:00 AM EDT
Strong economy bolsters Trump heading into 2020

Strong economy bolsters Trump heading into 2020
BY SYLVAN LANE 94
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A raft of surprisingly strong recent economic data is likely to bolster President Trump's case as he heads into the 2020 election.

The U.S. labor market blew past expectations by adding 263,000 jobs in April, with the unemployment rate falling to the lowest level in 50 years, and gross domestic product growth accelerated at a 3.2 percent annual rate in the first quarter.

Financial markets have rebounded to record highs after a bloody end to 2018, while wage growth is slowly increasing after years of near stagnation.

Economists had widely expected the U.S. economy to slow this year, with some raising the specter of a potential recession. But those fears have fallen by the wayside, and the strong top-line numbers give Democrats few openings to attack Trump on the state of the economy.

“Markets were wrong about the risks of a recession at the turn of the year. The economy still has significant momentum,” wrote Diane Swonk, chief economist at Grant Thornton, in a Friday research note.

That's left Democrats looking to unseat Trump instead focusing on the president's push to roll back regulations, which they argue has left workers with fewer protections, and on wide swaths of the country still struggling to get by.

“Regardless of the economic numbers, most people feel like they’re working harder but not getting ahead,” wrote Zac McCrary, partner at progressive polling firm ALG Research, in a Friday email.

“People don’t vote based on macro-economic metrics – they vote based on what’s happening in their own lives.”

The economy will take center stage in 2020. Trump and congressional Republicans have claimed credit for boosting the economy through massive tax cuts and sweeping deregulation.

When Trump took office in January 2017, he inherited a solid but slowly growing economy from former President Obama. The unemployment rate was 4.7 percent, but GDP grew only 1.6 percent in 2016, the slowest level of economic growth since 2011.

The economy has kicked into another gear since Trump’s election, with unemployment sinking to 3.6 percent in April and GDP growth coming close to 3 percent in 2018.

Trump and Vice President Mike Pence have toured the country to tout the strong economy, frequently in midwestern states that voted for Obama in 2012 but delivered the White House to Republicans in 2016.

Republicans have focused on the combination of a near-record low unemployment rate with quicker GDP and wage growth. The strong April jobs report released Friday by the Labor Department gave Trump new ammunition.

“We can all agree that AMERICA is now #1,” Trump said in a Friday tweet, accompanied by a picture of the Drudge Report homepage touting the April hiring boom. “We are the ENVY of the WORLD — and the best is yet to come!

Democrats, though, argue Obama should get credit for the burst of prosperity. They say the U.S. is finally reaping the full benefits of his efforts to rebuild the economy. Economic analysts say the stimulatory effects of GOP tax cuts and the sharp increase in government spending are likely short-lived.

Even so, Republicans believe the recent spurt of economic growth stands to benefit Trump as he seeks re-election. Polls find Trump broadly unpopular, but they also show the public giving him high marks for his handling of the economy.

Roughly 53 percent of Americans disapprove of Trump’s presidency, according to a FiveThirtyEight average of approval polls updated on Friday. But 56 percent of respondents to a CNN poll said they approved of Trump’s economic record, a new high for his presidency.

“‘It’s the economy stupid’ is still mostly operative,” Stuart Roy, a GOP strategist and former aide to Senate Majority Leader Mitch McConnell (R-Ky.), wrote in an email, citing the unofficial slogan of former President Clinton’s first White House campaign in 1992.

The strong economy wasn’t enough to prevent Republicans from losing their House majority in the 2018 midterm elections. The strong current numbers numbers have 2020 Democrats trying to focus their economic messaging in more nuanced ways.

Democrats have focused on the 2017 tax law, which included a large corporate tax cut that sunk the bill’s popularity.

Liberal critics of the president argued that the cuts favored wealthy individuals and big businesses over middle- and working-class Americans. And there are early signs that the argument could be effective in an election against Trump.

A poll conducted by ALG Research in March found that 75 percent of likely 2020 voters and 60 percent of Republican support raising taxes on the rich, including 60 percent of Republicans.

“Voters do not feel that the Trump tax bill lowered their taxes, in fact many believe their taxes have gone up – while the benefits went to the wealthy and the corporations,” McCrary wrote.

Several 2020 candidates have proposed raising taxes on the wealthy to tackle income inequality and fund several ambitious policy plans.

Presidential candidate Sen. Elizabeth Warren (D-Mass.) outlined a special annual tax on those with a net worth higher than $50 million. Her plan would apply a 2 percent tax each year on net worth between $50 million and $1 billion, and a 3 percent tax above $1 billion.

Sen. Kamala Harris (D-Calif.) proposed a tax credit of $6,000 for every family making less than $100,000 a year. It would be funded by reversing Trump tax cuts for earners making more than $100,000 and imposing a tax on financial institutions with more than $50 billion in assets.

And Sen. Cory Booker (D-N.J.), who is also running for president, has introduced a bill to create a federally funded savings account for every child, funded by boosting the estate tax and capital gains tax.

Democratic candidates have also tried to woo voters attracted to Trump’s populist rhetoric with policies meant to rein in corporate behemoths and unpopular industries.

Warren has proposed a plan to break up the largest tech companies, arguing that they distort markets and exploit working and middle-class Americans.

Several candidates have also embraced an expansion of government health insurance under the umbrella “Medicare for All” to insulate voters from the rising costs of healthcare.

“Healthcare costs are going up for families and Donald Trump is part of the problem,” wrote McCrary. “That message beat dozens of Republicans incumbents in 2018 – can beat Donald Trump in 2020.”

But whether those appeals can overcome a strong economy remains to be seen.

“If Democrats are forced to nitpick prosperity, they are casting their lot with a smaller portion of the public,” countered Roy.
 
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  • CrusaderV

    CrusaderV

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    September 25, 2019 - 12:10 PM EDT
    Trump says China deal 'could happen sooner than you think'

    Trump says China deal 'could happen sooner than you think'
    BY NIV ELIS 17
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    President Trump on Wednesday raised hopes of striking a trade deal with China, telling reporters, “It could happen sooner than you think."

    Markets rallied somewhat on the news, with the Dow Jones Industrial Average jumping as much as 150 points following the declaration.

    The tense trade war with China has eaten into economic growth and begun dragging at both business and consumer confidence.

    But tensions have eased somewhat in recent weeks, as the two sides agreed to renew negotiations. Trump agreed to postpone tariff increases scheduled for Oct. 1 by two weeks, and China bought roughly 10 boatloads of U.S. soybeans.

    Trump’s declarations may not portend an imminent deal, despite talks scheduled for early October. He has previously said the sides were close to a deal, only for negotiations to break down and lead to more tariffs.

    He reiterated arguments Wednesday that China was bearing the brunt of the trade war’s negative effects.

    “We've picked up trillions of dollars and they've lost trillions of dollars and they want to make a deal very badly,” he said.
     
    CrusaderV

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    Historical
    JOBS
    September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000
    PUBLISHED AN HOUR AGOUPDATED MOMENTS AGO
    Jeff Cox
    @JEFFCOXCNBCCOM
    @JEFF.COX.7528
    KEY POINTS
    The jobless rate in September dropped 0.2 percentage points to 3.5%, the lowest since December 1969.
    Nonfarm payrolls rose by 136,000 in September, below the 145,000 forecast by economists polled by Dow Jones.
    However, past numbers were revised higher. August was revised up to 168,000 from an initial estimate of 130,000, while July was increased to 166,000 from 159,000, for a net gain of 45,000.
    Wages rose just 2.9% for the year, the lowest increase since July 2018.

    WATCH NOW
    VIDEO01:34
    September unemployment rate falls to a 50-year low at 3.5%, job payrolls up 136,000
    Unemployment hit a fresh 50-year low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment, the Labor Department reported Friday.

    The jobless rate dropped 0.2 percentage points to 3.5%, matching a level it last saw in December 1969. A more encompassing measure that includes discouraged workers and the underemployed also fell, declining 0.3 percent points to 6.9%, matching its lowest in nearly 19 years and just off the all-time low of 6.8%.

    Get the market reaction here.

    Also, the jobless rate for Hispanics also hit a new record low, while the level for African Americans maintained its lowest ever.

    At the same time, the economy saw another sluggish month of growth. The nonfarm payrolls count missed the 145,000 estimate from economists surveyed by Dow Jones; the expectation on the jobless rate was to hold steady at 3.7%.

    Wages also were a disappointment, with average hourly earnings little changed over the month and up just 2.9% for the year, the lowest increase since July 2018.

    The report comes amid uncertain times for the economy, with fears escalating that weakness abroad will bleed into the U.S. and possibly cause a recession. Readings earlier in the week showed continued contraction in manufacturing and a sharp decline in the much larger services industry.

    “Today’s data don’t change the fundamental economic picture,” said Eric Winograd, senior U.S. economist at AllianceBernstein. “The labor market is still strong, adding more than enough jobs each month to absorb new entrants to the labor force. But even with a strong labor market, wage growth remains muted, limiting the risk that labor market tightness will push inflation meaningfully higher. The question that matters most for the economy is how long the labor market can stay strong given the ongoing slowdown in growth.”

    Upward revisions

    The Bureau of Labor Statistics count for September provided both good and bad news. Health care led the way in job creation while retail lost another 11,000, bringing the total to 197,000 in jobs the industry has lost since January 2017.

    However, there was some additional good news because the previous two months saw upward revisions. August rose sharply, from an initial estimate of 130,000 to 168,000 while July increased from 159,000 to 166,000 for a net gain of 45,000.

    Still, 2019 has seen a marked slowdown. The average to date for the year is just 161,000, compared with 223,000 for the same period in 2018.

    The drop in the unemployment rate, though, was for positive reasons, as it did not reflect a corresponding decline in the labor force participation rate, which held steady at 63.2%. The total labor force increased by 117,000, while the employment-to-population ratio increased one-tenth of a point to 61%.

    Unemployment also fell sharply for Asian Americans, dropping to 2.5% while the level for Hispanics fell to 3.9%, both declines of 0.3 percentage points.

    Health care’s 39,000 new jobs set the pace for the month, while professional and business services increased by 34,000, though the industry’s 35,000 per month average is below the 47,000 in 2018.

    Government jobs continued to rise, increasing by 22,000 though unlike in August the cause was not Census hiring, which rose by just 1,000. The average work week was little changed at 34.4 hours.

    Job growth skewed toward full time, which saw its ranks rise by 305,000, while part-time positions increased by 121,000.

    Federal Reserve officials watch the nonfarm payrolls count for clues as to how the economy is performing. While the low unemployment rate is one sign of economic strength, the weakness in wage growth shows that the central bank remains a good distance from its goal at maintaining an inflation rate around 2%. The central bank meets Oct. 29-30, with markets expecting another quarter-point rate cut.
     
    CrusaderV

    CrusaderV

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    Great deal with China
    Deal by the Crusader in Chief
    POLITICS
    US says China tariffs scheduled to rise on Tuesday suspended; no decision on other tariffs
    PUBLISHED FRI, OCT 11 20193:54 PM EDTUPDATED FRI, OCT 11 20195:38 PM EDT
    Tucker Higgins
    @TUCKERHIGGINS
    @IN/TUCKER-HIGGINS-5B162295/
    KEY POINTS
    Treasury Secretary Steven Mnuchin says tariffs slated to hit imports of Chinese goods Tuesday will not go into effect, after President Donald Trump says the two nations have a “very substantial phase one deal.”
    Friday’s announcement does not have any bearing on a separate tariff hike set to kick in on Dec. 15 or on tariffs put in place in September.
    The major indexes hit their session highs after the comments.
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    VIDEO01:29
    Secretary Mnuchin says new tariffs won’t go up next week: Javers
    Treasury Secretary Steven Mnuchin said on Friday that tariffs slated to hit imports of Chinese goods next week will not go into effect.

    The announcement came as President Donald Trump said there is a “very substantial phase one deal” between the two superpowers after high-level talks this week.


    The U.S. had previously threatened to increase duties on $250 billion worth of Chinese goods from 25% to 30% on Tuesday.

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    Friday’s announcement does not have any bearing on a separate tariff hike set to kick in on Dec. 15, U.S. Trade Representative Robert Lighthizer said. Those tariffs will apply at a 15% rate to $160 billion worth of Chinese imports.

    Tariffs put in place in September on a wide range of consumer items will remain in place. Those tariffs, of 15%, apply to about $112 billion worth of Chinese goods.

    The president and Mnuchin delivered the news from the Oval Office alongside Chinese Vice Premier Liu He, sending the major indexes to their session highs. Stocks pulled back after the president left open the possibility of future tariffs.
     
    CrusaderV

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    Crazy Democrat ( warren , sanders )
    US will be bankrupt
    October 16, 2019 - 12:01 AM EDT
    New study: Full-scale 'Medicare for All' costs $32 trillion over 10 years

    New study: Full-scale 'Medicare for All' costs $32 trillion over 10 years
    BY PETER SULLIVAN 7
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    A new study finds that a full-scale single-payer health insurance program, also called "Medicare for All," would cost about $32 trillion over 10 years.

    The study from the Urban Institute and the Commonwealth Fund found $32.01 trillion in new federal revenue would be needed to pay for the plan, highlighting the immense cost of a proposal at the center of the health care debate raging in the presidential race.

    The study did not analyze the exact proposals from any presidential candidates, but the proposal it examined is roughly similar to the one put forward by Sen. Bernie Sanders (I-Vt.) and backed by Sen. Elizabeth Warren (D-Mass.).

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    The flip side is that the study finds the plan would provide large savings to American households, who would no longer have to pay premiums or deductibles for their care, resulting in $886 billion in savings for people over 10 years. The plan would also provide insurance to everyone, reducing the number of uninsured from 32.2 million people to zero, the study found.

    The study looked at a range of proposed health care plans as Democratic presidential candidates clash over whether over whether to embrace full-scale single-payer. Other Democrats, like former Vice President Joe Biden and South Bend, Ind., Mayor Pete Buttigieg, instead back an alternative scaled-back plan that would make government-run insurance an option for everyone but not mandatory.

    The study found that it is possible to provide near-universal coverage without a full-scale Medicare for All plan. For example, a plan that provides a government-run option plus generous government subsidies to help people buy insurance, along the lines of the Biden and Buttigieg plans, would cost $1.3 trillion over 10 years, much less than full-scale Medicare for All, the study found. The proposal would reduce the number of uninsured from 32.2 million to 6.6 million people. All of the remaining uninsured would be people in the country illegally.

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    That proposal would not eliminate premiums and deductibles, though.

    The study did not look at which taxes would have to be raised to pay for the plans or who the new tax burden would fall on.

    One of the central debates is whether middle-class people would end up saving money under Medicare for All. Proponents like Warren argue that the elimination of premiums and deductibles could balance out the higher taxes.

    The study also examined a single-payer “lite” proposal, that would provide less benefits and require some out-of-pocket costs from enrollees, while also not covering people in the country illegally.

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    That scaled-back plan would cost $15.6 trillion over 10 years, about half of the full-scale plan, while providing insurance to everyone in the country legally.

    The “lite” proposal would also reduce total U.S. spending on health care by about 6 percent, thanks to lower payments to doctors and hospitals, while the full-scale single-payer proposal would increase total U.S. health care spending by about 20 percent, due in large part to more people gaining coverage and using health care.
     
    CrusaderV

    CrusaderV

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    Trump is wrong - I will never get tired of winning.
    China on its knees
    Trump biggest achievement
     
    CrusaderV

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    The Crusader in Chief
    ober 24, 2019 - 10:46 AM EDT
    Trump: Fed will be 'derelict in its duties if it doesn't lower the Rate'

    Trump: Fed will be 'derelict in its duties if it doesn't lower the Rate'
    BY SYLVAN LANE 6
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    President Trump on Thursday said that the Federal Reserve would be “derelict in its duties” if it does not cut interest rates next week, boosting pressure on the bank to stimulate a slowing U.S. economy.

    In a Thursday tweet, Trump demanded that the Fed should “lower the Rate and even, ideally, stimulate,” to match negative interest rates set by the European Central Bank.

    “Take a look around the World at our competitors. Germany and others are actually GETTING PAID to borrow money,” Trump tweeted.
    “Fed was way too fast to raise, and way too slow to cut!”

    Trump's tweet comes less than a week before the Fed’s policymaking Federal Open Markets Committee (FOMC) holds a two-day meeting in Washington next Tuesday and Wednesday.

    The FOMC is widely expected to cut its baseline interest rate range by 0.25 percentage points for the third consecutive meeting. The cuts come after the Fed raised interest rates four times in 2018 over the protests of Trump, who now insists that the bank should zero-out borrowing costs entirely.

    Trump’s Thursday tweet is his latest demand for the Fed to implement levels of stimulus not seen since the 2008 recession. While the U.S. economy has slowed throughout 2019, Trump is asking the Fed to mirror efforts used by Europe to reverse an economic retraction across the continent.

    The Fed is highly unlikely to meet Trump’s demand unless the U.S. economy enters a recession, which is two consecutive quarters of economic retraction. But the bank has cut rates twice in 2019 already to power the economy through slowing job growth, trade tensions, a manufacturing recession, and rising global threats to U.S. prosperity.

    Trump has leaned on the Fed and its chairman, Jerome Powell, to boost the economy through near-zero rates and massive purchases of Treasury bonds, even as the U.S enjoys unemployment near record lows and stable growth.

    But a slowing economy exacerbated by rising recession fears and trade tensions poses a major political threat to Trump as he eyes reelection in 2020.

    Trump's appeal to swing voters is deeply dependent on the strength of the U.S. economy, which is his most compelling pitch to Americans otherwise uncomfortable with his agenda. The president is also depending on victories in trade talks with China and Europe to fulfill campaign pledges to voters in industrial states, such as Ohio, Michigan, Wisconsin and Pennsylvania, crucial to a winning coalition in 2020.
     
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    Trump the Crusader in Chief golden economy
    Economy adds 266K jobs in November, blowing past expectations

    Economy adds 266K jobs in November, blowing past expectations
    BY SYLVAN LANE 2,251
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    The U.S. added 266,000 jobs in November, the Labor Department reported Friday, blowing past expectations as the American economy continues to push through a global slump.

    The unemployment rate remained steady during November, while the labor force participation also stayed even at 63.2 percent. The October jobs gain was also revised up by 28,000 jobs to 156,000, while the September jobs gain was revised up 18,000 jobs to 193,000.

    The report brings the average monthly job gain over the past three months to 205,000.

    Economists had projected the U.S. to add roughly 180,000 jobs in November, including a boost of roughly 40,000 General Motors workers that returned to work after a 35-day strike. The end of the GM strike plus strong expansion in the health care, professional and technical services sectors powered the U.S. economy through lags in manufacturing and trade activity.

    "Employment gains blew the consensus and our expectations out of the water," wrote Sophia Koropeckyj, managing director for Moody's Analytics, in a Friday research note. "While we expected a reversal of October's auto industry losses, if we subtract that anomaly, payroll gains still exceeded 200,000 in November."

    Wage growth also edged up to a 3.1 percent annualized gain, though below the rate economists expect for an economy with such low unemployment.

    "This suggests that employers are successfully keeping a lid on costs and are likely making up for the modest increases in wages through other perks," Koropeckyj wrote.

    The U.S. economy has remained steady and growing despite a persistent decline in industrial output and exports driven in part by President Trump's trade battles. Slumping economic growth across Europe and Asia has also weighed on U.S. business investment, capital expansion, and exports.

    Even so, the consumer sector has remained largely unscathed throughout 2019, boding well for President Trump as he seeks to ride a strong economy to reelection in 2020.

    "This is an excellent jobs report late in the business cycle and something of an early holiday gift for the economy and investors," wrote Jospeh Brusuelas, chief economist at tax and consulting firm RSM, in a Friday research note.

    Trump is banking on low unemployment and ample consumer confidence to maintain the support in industrial midwestern states he will need to secure another term. The president has often pointed to the strong economy when criticizing Democratic efforts to impeach him, citing the steady rise in stock prices during his term in a Friday tweet.

    “'It’s the economy, stupid,'” Trump tweeted Friday, riffing on the unofficial slogan of former President Clinton's 1992 presidential campaign.

    Incumbent presidents seeking re-election are often closely tied to the success of the U.S. economy, making November's report a useful tool for Republicans making the case for another Trump term.

    "@realDonaldTrump is delivering on his promises and Americans are winning again," tweeted House Minority Leader Kevin McCarthy (R-Calif.), a close ally of the president.

    While the U.S. has defied expectations of an economic slowdown and earlier fears of a recession, there are still several risks to the economy heading into 2020.

    Trump is still seeking resolutions to his trade war with China and escalating battle with the European Union. The president is set to impose a new tranche of tariffs on more than $100 billion in consumer goods from China on Dec. 15, which could strain household budgets at the start of 2020.

    And though the broader job market remains strong, U.S. manufacturing jobs have flatlined throughout the year despite Trump's pledge to revive American factories.

    "Trump's promise that manufacturing jobs will boom has sputtered," said Scott Paul, president of the Alliance of American Manufacturing, a trade group for U.S. industrial firms.

    "While there has been periodic bluster about policies to boost infrastructure and stop China's cheating, no real progress has been made to date. American workers deserve better from the Administration and Congress."
     
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    Greatest trade Union
    White House, Dems close to USMCA trade deal: report

    White House, Dems close to USMCA trade deal: report
    BY BRETT SAMUELS 0
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    The White House and House Democrats are on the verge of a new North American free trade agreement in what would give President Trump a signature legislative victory.

    The Washington Post reported Monday that AFL-CIO President Richard Trumka said the two sides had come to a deal and that the labor union was reviewing it.

    The White House and AFL-CIO did not immediately respond to requests for comment.

    Trump announced the U.S.-Mexico-Canada agreement (USMCA) more than a year ago. Negotiations with House Democrats have been ongoing ever since with Democratic leaders pushing for stronger labor and environmental regulations.

    A deal on the USMCA would come even as House Democrats move to impeach Trump, and would also benefit Democrats by helping the party argue it is legislating even as impeachment moves forward.
    The legislation is a divisive point among some Democrats, however. Sharp critics of the president have been reluctant to vote on USMCA and give Trump a legislative victory, while some more moderate lawmakers have been wary of returning to their districts with impeachment dominating the conversation.

    But Speaker Nancy Pelosi (D-Calif.) has been adamant that the caucus can keep impeachment separate from legislation, and she has met in recent weeks with U.S. Trade Representative (USTR) Robert Lighthizer and other administration officials in recent weeks.

    Trump has repeatedly hammered Pelosi for her decision not to bring USMCA up for a vote to date, accusing her of delaying it to shepherd votes on impeachment.
     
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