And guess what?
Senate Majority Leader Mitch McConnell said on Tuesday the U.S. Senate would not take up the USMCA trade deal next week before congressional recess.
The Republican leader said that trade deal likely will come up in the Senate after the impeachment trial of President Donald Trump. Reuters, quoted at Last RefugeCommentary from Sundance:
...Majority Leader McConnell is not about to lose the opportunity to gain his traditional indulgence fees for his legislative work. Passing the USMCA before the Senate trail of President Trump would be giving up leverage. It would be akin to working for free.Just because it's good for America doesn't mean it's good for McConnell and his paymasters.
Both China and Wall Street have been pouring money into K-Street lobbyists. There’s a boatload of extraction available before any Senator should be forced to take a final position. Slow down there cowboy, the check-writers are lined up at the doors.
First, delaying USMCA benefits China. Beijing has invested heavily in Mitch McConnell and that level of alignment needs to be carefully navigated.
Second, passage of the USMCA hurts the Wall Street multinationals. Those multinational corporations have paid the legislative brokers, K-Street lobbyists, to defend their interests. The multinationals who were ignoring President Trump’s multiple warnings, likely need more time to reposition their assets.
Third, the Wall Street hedgefunds have also paid K-Street. If USMCA assists the decoupling from China (it does), those hedgefunds need time to extract their financial position from the Stock Market. **nudge/nudge, wink/wink** We’re talking “folding money” here. Trillions at stake. If you’re in the market… position yourself accordingly....