It’s not something we get a lot of in Washington anymore, but there is some agreement between the two major parties on trade. Well, just a little bit. It seems there are Congressional Democrats showing support of the President holding China’s feet to the fire in any new trade deal.
A lot of questions still need to be answered, and there is still much sensitive information to progressing negotiations, but President Trump does have some bipartisan support. Senator Ron Wyden (D-OR) sits on the Finance Committee chaired by Iowa Senator Chuck Grassley. Wyden recently asked Trade Ambassador Robert Lighthizer what the plans were for lifting the tariffs against China.
Lighthizer could not comment publicly, as negotiations continue. However, the sentiment is that if a trade deal is reached with China, we must hold them accountable. This opinion has been shared by Senator Chuck Schumer (D-NY) as well. Wyden says we all want to see accountability from China in any new deal.
Remaining tariffs are a point of contention in the USMCA deal. Steel and aluminum tariffs remain in effect against Canada and Mexico, even though a trade agreement has been reached. Senator Grassley has said these need to be removed if the USMCA has any chance of ratification.