Apr 7, 2019

A Pelosi-shaped cloud over Trump's NAFTA 2.0 chances

Photo: Chen Mengtong/China News Service/VCG via Getty Images

Nancy Pelosi has more power than anybody to decide whether Trump gets Congress' approval to replace the North American Free Trade Agreement with his renegotiated United States-Mexico-Canada Agreement. And the signs Republicans are seeing from the speaker are not filling them with hope.

Driving the news: Last week, Pelosi told Politico's Jake Sherman and Anna Palmer that Mexico needed to pass labor law reforms before the House could even consider Trump's replacement to NAFTA. And now, per a source who shared the invitation with me, Pelosi has invited AFL-CIO President Richard Trumka to her speaker's meeting on Wednesday to present on the USMCA.

  • Some Republicans close to the process are taking that as an ominous sign. Trumka "is pushing for changes and Mexico to not only pass but 'implement' labor law changes," said one of these sources.
  • "They may be trying to slow walk this thing to death. The longer this takes, the harder it will be with 2020 Dem primary's full swing right around the corner."
  • Pelosi spokesman Drew Hammill responded: "Our last guest was [U.S. Trade Representative Robert] Lighthizer for a similar briefing. We made clear we would be hearing from the full range of stakeholders."

What to watch: Per the IndyStar, Pence on Thursday promoted the USMCA to Indiana farmers who are concerned about tariffs the administration has imposed. Pence spokeswoman Alyssa Farah tells me the VP has more dates around the country lined up to sell the USMCA.

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 1,464,852 — Total deaths: 85,397 — Total recoveries: 315,105Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 402,923 — Total deaths: 13,007 — Total recoveries: 22,717Map.
  3. State latest: New York Gov. Andrew Cuomo issued an executive order for New Yorkers to vote by absentee ballot for June 23 primaries.
  4. Federal government latest: The U.S. has begun to see "glimmers of hope" despite its highest recorded number of deaths in 24 hours, Dr. Anthony Fauci said.
  5. Business updates: Roughly one-third of U.S. apartment renters didn't make April payments — The Fed will lift Wells Fargo's asset cap to help small business lending.
  6. 🎧 Podcast: The battle over billionaire coronavirus saviors
  7. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Sen. Kelly Loeffler liquidates stocks after uproar over coronavirus sell-off

Sen. Kelly Loeffler. Photo: Madnel Ngan/AFP via Getty Images

Sen. Kelly Loeffler (R-Ga.) and her husband Jeffrey Sprecher are liquidating their stock portfolio and moving holdings into exchange traded funds (ETFs) after coming under fire for purchasing and selling roughly $1.4 million in stock just before the market crashed in response to the coronavirus pandemic.

Why it matters: Loeffler, who faces a competitive reelection fight in November, is one of several senators under fire for selling shares shortly after a private briefing on the coronavirus — sparking accusations of insider trading.

Sanders: "While this campaign is coming to an end, our movement is not"

Addressing his supporters via livestream after suspending his campaign, Bernie Sanders congratulated Joe Biden on his presumptive victory in the 2020 Democratic presidential primary while making clear that his fight for progressive ideas will not end with his candidacy.

What he's saying: "While this campaign is coming to an end, our movement is not. Dr. Martin Luther King Jr. reminded us that 'the arc of the moral universe is long, but it bends towards justice.' The fight for justice is what our campaign has been about. The fight for justice is what our movement remains about."