Congress, Mexico, President Trump discussed on All Things Considered
One place In Saint Paul today the studios of Minnesota public radio I'm KAI Ryssdal it is Tuesday the, twenty eighth day of August is always to have you along everybody at the risk of money in the international trade waters more than they have already been muddied we begin today with an update to developments in. The renegotiation of the North American Free trade agreement while noting, that the Canadian foreign minister Christie Friedland was back in Washington today trying to get. Canada back in that three Bharti deal after yesterday's news that. Mexico and the United. States have come to terms the update for the White House goes a. Little bit like this hold your horses marketplace's Tracey Samuelson introduces us to something called trade, promotion authority trade promotion authority or sets up this quid pro quo between congress and. The president congress gives the president the, authority to go out and go she ate trade deals. That's the quid, Bill Reinsch with the, center for strategic and international studies congress sends the president off with goals for those deals and lots of rules and timetable For telling. Them what he's. Up to the quo from congress is it if the president does all the things that TPA tells him to do then congress agrees to consider agreement that he brings. Back in a timely fashion without any amendments a simple majority vote and congress can't change the carefully negotiated terms of the deal here's the thing last may the president notified congress, like you supposed to you that he wanted to revise NAFTA with Mexico and Canada so what happens if he comes to congress for a vote on a deal without Canada White House officials say it'd still qualify. For these so-called fast-track provision but Jennifer Hillman a professor at, Georgetown law doesn't see it that way in my view coming back with an agreement. It's only between the United States and Mexico is not consistent. With that law ultimately. Congress will decide that question already senators from Pennsylvania and Texas have expressed. Doubts that a US Mexico deal would qualify for that simple majority no amendment vote without Fasttrack provision Hillman says it'd be a much tougher slog though not impossible to get the deal through congress any. One amendment that passes has the potential to take down the agreement unless, you go back to the Mexicans and get them to agree to that provision and, then you've got to bring that revised Bill back again and now you see why fasttrack exists, in the first place I'm Tracey Samuelson for marketplace we're doing a whole lot of. Stories a year or so ago about what looked at the time like a retail apocalypse department stores malls anything built out of bricks. And mortar all pretty much crumbling in the face of online retail as we sit here, in mid two thousand eighteen though things could not be more different. We've seen strong quarterly results past couple of weeks from everybody from target. To Tiffany's best, buy just this morning so, marketplace Justin how has the retail update today is one of the hottest days. Of, the year in New York City but that hasn't stopped shoppers from pouring into the flagship Macy's New York's herald square and they all have, their reasons so stars My experience today was like really good fit right so. If it doesn't fit well then there's no point buying it online I make more money now some more comfortable shopping does that can pick up whatever I. Want that's Michael tomb Richard ROY internet chambers this month Macy. Said improves consumer confidence is driving stronger sales target reported that. Foot traffic and it stores. Is up more than it's been in over a decade Wendy Liebman CEO of WFL strategic retail store, the physical store and the need for, us on the of shop is has gone away she says online sales are strong too and. That's not just Amazon Nordstrom best buy and WalMart, are all finding their way online the. Ones who aren't good gone and the ones who was smarter and investing doing much better over the last year, the retail, job, market has grown only about a third as fast as the private sector as a whole Heidi sheer Holtz, is a senior economist at the Economic Policy Institute she says the real job growth in the sector is in warehouse. Fulfillment centers And wages there aren't great, so it's just not having a big. Meaningful impact on the overall quality of jobs the pressure is mounting on retailers to improve wages. And this morning, best buy, said that paying more, to employees, will eat into profits in New York on Justin how for marketplace, if you're in the market to buy a house this next story might. Be somewhat reassuring somewhat because according to the. Closely washed SNP Keisha or home price index those home prices are still going up just. Not as, fast as they had been, June was the third straight. Month of slowing increases if that makes sense now does that. Mean the housing market is turning or is it just moving around like markets do that's the assignment marketplace's Amy Scott. Got remember all real estate is local right well in Las Vegas prices were up about thirteen percent in June in San Francisco almost eleven percent but only about four percent. Of New York and three percent in DC in Tony Montclair New Jersey agent Diane Russell says she's noticed a change last year for a house. That was you know low six hundred you might have twelve offers, this year she's seeing maybe four or five now they're still really good authors well ask but, it's not the craziness that what we were seeing last year less, crazy is far from downturn Craig Lazaro with SNP Dow Jones indices says rising interest rates may be taking some, of the air out of the market as rates go up obviously housing becomes less affordable, and that will cause demand increase at a, at a less robust. Rate, let's say and some sellers are getting the message Zillow says Moore owners lowered their asking prices? In June Sam cater, chief, economist. At Freddie MAC says the market is, due? For a reality check. The acceleration in home prices were outpacing incomes so I think, the slowdown is, a good thing for all buyers that Christopher Thornberg with beacon economics cautions few months of, data do not A trend make realistically, you inventories are still very very tight on that against suggests that what we're seeing these kind of. Wiggles, in the market are, are nothing more than that they're just wiggles in the market but to. A first, time buyer looking to get into the. Market even a, wiggle may feel like progress I'm Amy, Scott for marketplace one more indicator. Today just, cause consumers in this economy are feeling. Better than they have in. Eighteen years consumer confidence. Is the official term on Wall Street today they were not terribly confident I would say we'll have the details when we do the numbers.