The Finance 202 Trumka throws cold water on new North American free trade deal

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Summary

The Post's David Nakamura: "Speaking to reporters at the White House, Trump said the two sides 'have to work out their own situation. The Post's Tom Heath: "Stock markets climbed Wednesday amid new optimism that high-level trade talks set to resume this week might usher in a breakthrough in the year-long U.S.-China conflict. The issue will be the subject of a briefing for House Democrats this afternoon by Gerald Cohen, a former Treasury deputy assistant secretary now with Haver Analytics. From Wendy Cutler, who negotiated the Trans-Pacific Partnership during the Obama administration:  On eve of China trade talks, I welcome both sides making sufficient progress to forestall future tariff hikes and even some rollbacks. The internal deliberations come as a team of Chinese negotiators, led by Vice Premier Liu He, arrived in Washington to resume trade talks with [Lighthizer] and Treasury Secretary Steven Mnuchin starting [today].

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THE TICKER

President Trump shakes hands with Canada's Prime Minister Justin Trudeau as Mexico's President Enrique Pena Nieto looks on after they signed a new United States-Mexico-Canada Agreement last year. (AP Photo/Martin Mejia)

You can probably scratch a revamped North American free trade pact off the congressional menu for this year. 

AFL-CIO president Richard Trumka just all but doomed the near-term prospects for President Trump’s top legislative priority, telling my colleague Erica Werner it would be a “colossal mistake” for House Democrats to bring the measure up for a vote before Thanksgiving. 

Barring a dramatic reversal, the labor leader’s declaration snuffs out the hope that House Speaker Nancy Pelosi (D-Calif.) will find the support she...

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