US and Canada agree on a new trade agreement instead of NAFTA

US President Donald Trump and Canadian Prime Minister Justin Trudeau have agreed to renew the free trade agreement between the US, Canada and Mexico, which will replace NAFTA, previously criticized by Trump. The new agreement, which was initiated by the United States, will be called the United States-Mexico-Canada Agreement, or USMCA.

Photo: Air Force frame

The parties were able to reach an agreement late on Saturday, reports Independent. Canadian and US officials said in a joint statement that the agreement would “strengthen the middle class and create good, decently paid jobs and new opportunities for almost half a billion people who call North America home.”

Photo: Twitter

Photo: Twitter

The agreement gives American farmers greater access to the Canadian dairy market - a key demand from the United States. It also provides a solution to NAFTA, which the United States has sought to get rid of, and provides protection for Canada if Trump continues his campaign to impose tariffs on cars, trucks and auto parts imported into the United States.

Photo: Twitter

“NAFTA and the NAFTA Agreement.” - President Trump pic.twitter.com/MjAiRLTu8x

- The White House (@WhiteHouse) October 1, 2018

“This is a good day for Canada,” Prime Minister Justin Trudeau said as he left office late at night (he famously called an emergency meeting of his cabinet at 22.00 p.m. local time).

"It's a good day for Canada," says Trudeau after agreeing to #NAFTA replacement #USMCA that will include Mexico pic.twitter.com/TM4oSUhtlN

- TicToc by Bloomberg (@tictoc) October 1, 2018

“We are celebrating a three-way deal. No more fragmentation of trade in the region,” tweeted Jesus Seade, a trade negotiator for the incoming Mexican president.

Photo: Twitter

Representatives of the government of the elected president of Mexico, Andreas Manuel Lopez Obrador, convened a press conference on Monday to discuss the details of the trade agreement.

Canada, United States trading partner No. 2, was set aside after the United States and Mexico reached an agreement last month to revise the North American Free Trade Agreement. 31 August Trump's Administration Officially notified Congress of a trade agreement between the US and Mexico. This was the beginning of the 90-day period, which would allow the outgoing Mexican president, Enrique Pene Nieto, to sign the new pact before he leaves his post on December 1.

Фото: Depositphotos

Trump previously threatened to negotiate an updated NAFTA agreement, with or without Canada. However, it was unclear whether the president was authorized by Congress to renew NAFTA with Mexico only.

Recall that last week during the UN General Assembly in New York Donald Trump refuses Canadian premiere Justin Trudeau in a personal meeting.

Some lawmakers immediately announced that Canada had regained a place in the regional trading bloc.

“I am pleased that the Trump administration was able to reach a deal to modernize NAFTA with Mexico and Canada,” said Senate Finance Chairman Orrin Hatch. “NAFTA is a proven success.”

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