The leaders of the United States, Mexico and Canada on Friday signed a new trade deal replacing the old NAFTA in a triumph for President Donald Trump, to strong outcomes for farmers, ranchers, businesses, and workers across North America, including in areas such as auto manufacturing and intellectual property.
“This is a model agreement that changes the trade landscape forever,” Trump said at the signing ceremony in Buenos Aires, on the sidelines of a summit between the leaders of the G20 countries. Trump said negotiating the deal known as the USMCA had seen the leaders take “a lot of barbs and a little abuse.”
But he insisted that the “incredible milestone” would aid US workers, especially in the auto industry, while putting in place “intellectual property protection that will be the envy of nations all around the world.” Legislators from the three countries still have to approve the pact, officially known as the United States-Mexico-Canada Agreement (USMCA), before it goes into effect and replaces the North American Free Trade Agreement (NAFTA). While praising the “historic” nature of the deal, Trudeau also told Trump that the progress gave “all the more reason why we need to keep working to remove the tariffs on steel and aluminium between our countries.”
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18 August, 2019