World, Economy, Americas

Trump signs 'fairest' USMCA trade deal to replace NAFTA

'The USMCA is the largest, fairest, most balanced and modern trade agreement ever achieved,' says US president

Servet Gunerigok   | 29.01.2020
Trump signs 'fairest' USMCA trade deal to replace NAFTA

WASHINGTON

President Donald Trump on Wednesday signed into law a revised trade deal between the U.S., Mexico and Canada (USMCA), calling the agreement the "fairest" ever achieved. 

"Today, we are finally ending the [North American Free Trade Agreement] NAFTA nightmare and signing into law the brand new US-Mexico-Canada Agreement!" said Trump during his address at the signing ceremony at the White House. "The USMCA is the largest, fairest, most balanced and modern trade agreement ever achieved."

The USMCA was proposed more than a year ago to replace NAFTA, which eliminated trade barriers between the three countries.

Trump said his administration has "replaced a disastrous trade deal that rewarded outsourcing with a truly fair and reciprocal trade deal that will keep jobs, wealth and growth right here in America!."

Since his run in 2016 for president, Trump has repeatedly knocked NAFTA as "one of the worst trade deals" and now implements a campaign promise to replace the agreement.

In his remarks, Trump hailed the USMCA as a "massive win" for U.S. manufacturers and autoworkers.

"This is a cutting-edge, state-of-the-art agreement that protects, defends, and serves the great people of our country," he said.

In mid-January, the U.S. Senate overwhelmingly approved the new deal, clearing the floor in a 89-10 vote.

In December, the USMCA, cleared the House of Representatives with bipartisan support in an overwhelming 385-41 vote, with 38 Democrats, two Republicans and Independent Justin Amash voting against the deal.

The deal was finalized Dec. 10 after representatives of the three countries signed it in Mexico.

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın