(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. House Democrats said Wednesday that a deal on the stalled U.S.-Mexico-Canada free-trade agreement is within reach and urged Mexico to accept a compromise on labor-rights enforcement.“We are on the 2 1/2-yard line,“ Ways and Means Chairman Richard Neal said about efforts to wrap up negotiations on the replacement for Nafta and clear the way for approval in Congress.Mexico’s top trade negotiator, Jesus Seade, was meeting Wednesday with his Trump administration counterpart Robert Lighthizer in Washington in an attempt to resolve final issues. Neal said rank-and-file Democrats would be briefed on the details of the talks later in the day.California Representative Jimmy Gomez, a member of the U.S. House Democrats negotiating team, said that House Speaker Nancy Pelosi and Lighthizer have offered Mexico a compromise on labor enforcement that “respects Mexico’s sovereignty.”“If they want a deal, it is ripe now,” said Gomez. “It’s a good deal. That’s my message to the Mexicans and that’s my message to Democrats.”Seade said in an opinion essay published Wednesday that Mexico would oppose any provision requiring U.S. inspectors in Mexican factories. He told reporters that Mexico is open to a fast-track arbitration process to address labor-rights violations. Gomez said the compromise does not involve “rogue” U.S. inspections, but that there is an element of monitoring involved to ensure compliance.According to people briefed on the deal in Mexico, the labor proposal aims to make dispute settlement more effective. Disputes could take into account enforcement of Mexico’s overhaul to improve labor conditions, but wouldn’t allow investigators to just show up on any day to a factory unannounced, the “lone ranger” type of inspections that Seade has rejected.On another sticking point, the White House and Democrats have floated to Mexico removing a provision guaranteeing 10 years of data protection for biologic drugs, according to people briefed on the deal. That would be a victory for both Democrats and Mexico, which had opposed including the protection in the USMCA before it was signed one year ago.To contact the reporters on this story: Erik Wasson in Washington at ewasson@bloomberg.net;Eric Martin in Mexico City at emartin21@bloomberg.netTo contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Ana MonteiroFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. House Democrats said Wednesday that a deal on the stalled U.S.-Mexico-Canada free-trade agreement is within reach and urged Mexico to accept a compromise on labor-rights enforcement.“We are on the 2 1/2-yard line,“ Ways and Means Chairman Richard Neal said about efforts to wrap up negotiations on the replacement for Nafta and clear the way for approval in Congress.Mexico’s top trade negotiator, Jesus Seade, was meeting Wednesday with his Trump administration counterpart Robert Lighthizer in Washington in an attempt to resolve final issues. Neal said rank-and-file Democrats would be briefed on the details of the talks later in the day.California Representative Jimmy Gomez, a member of the U.S. House Democrats negotiating team, said that House Speaker Nancy Pelosi and Lighthizer have offered Mexico a compromise on labor enforcement that “respects Mexico’s sovereignty.”“If they want a deal, it is ripe now,” said Gomez. “It’s a good deal. That’s my message to the Mexicans and that’s my message to Democrats.”Seade said in an opinion essay published Wednesday that Mexico would oppose any provision requiring U.S. inspectors in Mexican factories. He told reporters that Mexico is open to a fast-track arbitration process to address labor-rights violations. Gomez said the compromise does not involve “rogue” U.S. inspections, but that there is an element of monitoring involved to ensure compliance.According to people briefed on the deal in Mexico, the labor proposal aims to make dispute settlement more effective. Disputes could take into account enforcement of Mexico’s overhaul to improve labor conditions, but wouldn’t allow investigators to just show up on any day to a factory unannounced, the “lone ranger” type of inspections that Seade has rejected.On another sticking point, the White House and Democrats have floated to Mexico removing a provision guaranteeing 10 years of data protection for biologic drugs, according to people briefed on the deal. That would be a victory for both Democrats and Mexico, which had opposed including the protection in the USMCA before it was signed one year ago.To contact the reporters on this story: Erik Wasson in Washington at ewasson@bloomberg.net;Eric Martin in Mexico City at emartin21@bloomberg.netTo contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Ana MonteiroFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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