United States, Mexico and Canada Form New Trade Agreement
October 01, 2018
Trade negotiations between the U.S. and Canada went down to the wire, but a trade agreement, which also includes Mexico, is in place. U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland issued a joint statement, saying the new deal will be good for “workers, farmers, ranchers and businesses” resulting in “freer markets, fairer trade and robust economic growth.”
In a Tweet, President Trump called the agreement “a historic transaction.” Trump discussed the trade deal at a White House news conference on Monday morning, saying the U.S.-Mexico-Canada Agreement (USMCA) is a great deal for U.S. farmers and ranchers. Trump clarified that the deal isn’t NAFTA redone, it’s a new deal. “Our farmers have gone through a lot in the last 15 years. They’ve been taken advantage of by everybody,” said Trump. “Prices have gone way down, and we’re working on other deals that will also make them very happy. This is a very, very big deal for our farmers. But, without tariffs, we wouldn’t have this trade deal.”
The 60 day period for Congress to review USMCA started October 1.