America agrees replacement for NAFTA
In a landmark announcement, the United States has announced a new trade agreement with Mexico and Canada following months of discourse and trade restriction.
President of the United States, Donald Trump, had been very critical of the North American Trade Agreement (NAFTA), describing it as one of the worst trade deals ever created. During his campaign for the Presidency he used it as an example of how a new Republican government could put America first by bringing an end to a deal filled with deficiencies and mistakes.
The president said the United States-Mexico-Canada Agreement (USMCA), will help North America compete on trade whilst delivering thousands of new jobs. The deal green lights around US$1.2bn of trade between the three countries, representing what Mr Trump has called "the biggest trade deal in the United States history".
Canadian Prime Minister Justin Trudeau said the trade deal was "profoundly beneficial" to Canadians. At the press conference he stated: "We had to make compromises, and some were more difficult than others," he said. "We never believed that it would be easy, and it wasn't, but today is a good day for Canada."
Mexico’s president, Enrique Peña Nieto, echoed these sentiments and was keen to stress the importance of working together. With this new deal in place there will be hopes tensions in North America should start to settle, bring an end to a drama filled first year of Mr Trumps Presidency.