Trump Dumps NAFTA, Signs New Deal with Canada and Mexico

President Donald Trump. Photo: White House
President Donald Trump. Photo: White House

Trump Dumps NAFTA, Signs New Deal with Canada and Mexico

President Donald Trump has today announced United States Mexico Canada Agreement or USMCA which will replace the existing trade agreement NAFTA (North American Free Trade Agreement) between the three countries.

Trump claimed that it is a great deal which will solve the deficiencies and mistakes in NAFTA while opening markets for farmers and manufacturers and reducing trade barriers. “The USMCA is a historic transaction!” Trump tweeted.

He also will hold a news conference today on the USMCA at the Rose Garden of the White House.

After assuming the office last year, Trump took just a day to work toward one of his campaign promises: end of NAFTA. It is an agreement signed in 1994 by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.

But Trump has been saying during his election campaign that NAFTA has failed to protect the interests of Americans and his administration will put an end to the agreement. Now, it is believed that Trump has fulfilled his campaign promise.

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Rakesh Raman