Sterling is apparently troubled by more Brexit chaos and weakens broadly. Firstly, ITV’s Robert Peston said it’s almost 100% certain that the UK government cannot make a deal with Northern Ireland DUP, and thus there will be no meaningful vote three (MV3) this week.
But more importantly, the Common speaker John Becrow just made a surprising statement in the Parliament. Simply speaking, Prime Minister Theresa May cannot bring the “same” motion, the Brexit deal that was defeated just last Tuesday, back for another meaningful vote.
That is, the same motion, or essentially the same motion, cannot be voted over and over again. This is a necessary rule to ensure the sensible use of the house’s time, and proper respect for what it decides.
Key quotes from John Bercow’s opening statement:
“If the government wishes to bring forward a new proposition that is neither the same nor substantially the same as that disposed of by the House on March 12, this would be entirely in order.
What the government cannot legitimately do is resubmit to the house the same proposition – or substantially the same proposition – as that of last week, which was rejected by 149 votes.
This ruling should not be regarded as my last word on the subject. It is simply meant to indicate the test which the government must meet in order for me to rule that a third meaningful vote can legitimately be held in this parliamentary session.”
High-level US-China trade talks to resume next week, aiming at a deal in April
It’s reported, without confirmation from named officials, that high-level US-China trade talk are going to resume week in a push to close the deal by the end of April. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin would fly to Beijing in the week of March 25 to meet Chinese Vice Premier Liu He again. The following week, Liu He is expected to fly to Washington to continue the negotiations.
At the same time, it’s reported that China is pushing back against some of the American demands on core issues. A key reason is the lack of assurance from Trump on lifting tariffs imposed. China is also said to be stepping back from the initial agreements over pharmaceutical data protection, patent linkages and refused to give ground on data-service issues. Nevertheless, some officials on both sides are seeing the “back-and-froth” as something expected in typical negotiations.
The date for signing a trade deal between the countries has been pushed back recently. While it’s still possible to happen in April, the more probable occasion would be as sideline of G20 summit in Japan in June. Meanwhile, in his typical rhetorics, Trump said at the White House yesterday that “talks with China are going very well”.