Trump Dumps NAFTA, Signs New Deal with Canada and Mexico
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.
Late last night, our deadline, we reached a wonderful new Trade Deal with Canada, to be added into the deal already reached with Mexico. The new name will be The United States Mexico Canada Agreement, or USMCA. It is a great deal for all three countries, solves the many……
— Donald J. Trump (@realDonaldTrump) October 1, 2018
He also will hold a news conference today on the USMCA at the Rose Garden of the White House.
….deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduces Trade Barriers to the U.S. and will bring all three Great Nations together in competition with the rest of the world. The USMCA is a historic transaction!
— Donald J. Trump (@realDonaldTrump) October 1, 2018
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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