Pelosi announces agreement on North American trade pact

(AP) - House Speaker Nancy Pelosi has announced agreement on a modified North American trade pact, handing President Donald Trump a major Capitol Hill win.

House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill in Washington, Thursday, Oct. 31, 2019. (Source: Susan Walsh)

This comes on the same day that Democrats announced their impeachment charges against the president.

"There's no question, of course, that this trade agreement is much better than NAFTA," Pelosi said. "But in terms of our work here, it is infinitely better than what was initially proposed by the administration."

Just before Pelosi announced her support, Trump said the revamped U.S.-Mexico-Canada Agreement will "be great" for the U.S.

Pelosi says the revamped U.S.-Mexico-Canada Agreement is a significant improvement over the original North American Free Trade Agreement.

NAFTA badly divided Democrats but the new pact is more protectionist and labor-friendly, and Pelosi is confident it won't divide the party, though some liberal activists took to social media to carp at the agreement.

In Mexico City, Mexican Foreign Relations Secretary Marcelo Ebrard said that there would be a meeting of the three countries' negotiating teams Tuesday "to announce the advances achieved" on the trade agreement.

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