North American Free Trade Agreement (NAFTA)

Mnuchin says Pelosi has privately committed to a USMCA vote by October

Pelosi and Steven Mnuchin
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin. Photos: Mark Wilson; Nicholas Kamm via Getty Images

Treasury Secretary Steven Mnuchin has been telling colleagues that House Speaker Nancy Pelosi has privately assured him she would allow a vote on the United States–Mexico–Canada Agreement (USMCA) by October, according to 3 administration officials familiar with the internal conversations. Pelosi's office unequivocally denies that she gave Mnuchin any assurances on timing for a USMCA vote.

Why it matters: The USMCA — the trade deal that President Trump renegotiated to replace NAFTA — is the Trump administration's top legislative priority. Trump has signed the deal, but the law requires Congress to approve the trade deal on a yes or no vote. Pelosi leads the House and controls what legislation is voted on, meaning she has the power to kill the USMCA.

Mexico becomes first country to pass USMCA trade deal

Mexico's President Enrique Pena Nieto US President Donald Trump and Canadian Prime Minister Justin Trudeau signing a trade deal
Mexico's President Enrique Pena Nieto (L) US President Donald Trump (C) and Canadian Prime Minister Justin Trudeau, sign a new free trade agreement in Buenos Aires, on November 30, 2018, on the sidelines of the G20 Leaders' Summit. Photo: Saul Loeb/AFP/Getty Images

Mexico became the first nation to ratify the U.S.-Mexico-Canada trade deal on Wednesday with little opposition within the Mexican Senate, reports Politico.

Details: The new North American free-trade agreement may not be in its final format as House Democrats demand changes to the deal regarding enforcement, labor, the environment and drug pricing, per Politico. Mexico must sign off on any future changes.