Boring but important

New NAFTA deadline

A day after signing a new trade deal with Mexico and Canada, Trump last week said he will be “formally terminating NAFTA shortly.” By law Trump must give six months’ notice before withdrawing from the old deal. During that window Congress could pass a revised version of the United States–MexicoCanada Agreement, known as the USMCA. If Congress failed to do so, the old treaty would be void, and the U.S. would be left without a trade deal at all. White House officials believe the deal’s wage requirements for automobile workers and other provisions could win bipartisan support in Congress. But Democrats say the USMCA doesn’t do enough to protect U.S. jobs, with incoming Speaker Nancy Pelosi (D-Calif.) calling it a “work in progress.”