Reuters: Trump Delivers Promised North America Trade Pact, Farmers Rejoice
The leaders of Mexico, Canada and the United States signed a North American trade pact on Friday after brinkmanship over the final details of the deal continued through the eve of the signing, according to reporting by Roberta Rampton over at Reuters-UK.
They agreed on a deal in principle to govern the more than trillion dollars of mutual trade after a year and a half of acrimonious negotiations concluded with a late-night bargain just an hour before a deadline on Sept. 30.
Since then, the three sides have bickered over the wording and the finer points of the deal, and still had not agreed just hours before officials were due to sit down and sign it as the G20 summit kicks off in Buenos Aires.
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).
Additionally, House Agriculture Committee Chairman K. Michael Conaway released the following statement after the signing of the U.S.-Mexico-Canada Agreement (USMCA):
“Farmers, ranchers and agribusiness in general will benefit from a strengthened trilateral trade agreement with Canada and Mexico, and today President Trump brought our nation one step closer to realizing this important victory. There are several important wins for our producers in this deal, and I look forward to Congress swiftly approving the agreement in the new year.”
Head on over to Reuters-UK to read Rampton’s full story on the new deal.