The U.S.-Mexico-Canada Trade agreement could bring thousands of jobs and billions of dollars in direct investment into the United States, even if China may be a "sexier global story," White House economic adviser Larry Kudlow said Thursday.
"Canada and Mexico are so important," he told Fox Business' "Mornings with Maria." "Our total trade with those two countries is twice what our total trade is with China..but for the American economy, various estimates (show) half a point of additional GDP per year, maybe 180,000 jobs per year and maybe a $100 billion of direct investment.”
Kudlow said Thursday he's becoming "increasingly bullish" that Congress will approve the USMCA, as House Speaker Nancy Pelosi is sounding "quite optimistic" on bringing it to the floor for a vote.
"My friend and former TV partner Jim Cramer interviewed Speaker Pelosi, I guess two evenings ago, and she was quite optimistic; she suggested they could get to yes," Kudlow told show host Maria Bartiromo. "(He) said, 'will you give President Trump a win,' and she said, 'actually, it is not a Republican win, not a Democratic win. It would be an American win.'"
He also pointed out that Trade Representative Robert Lighthizer has a "terrific relationship" with Pelosi, but the deal is pro-growth.
Lightheizer is working on a deal that includes opening up dairy and farm areas with Canada, intellectual property rights and copyright protections, currency stability, digital services, and raising domestic content for manufacturers, said Kudlow.
"That's a powerful deal. The sooner we get it passed the sooner it's going to act positively on the economy,” he said, adding that “the job implications are terrific.”
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