Struck at the very last minute, a new trade deal between the U.S., Mexico, and Canada has been cemented, signalling the end to the 24-year-old North American Free Trade Agreement (NAFTA). In a report from Yahoo News, President Donald Trump at a morning White House press conference, emphasized the new agreement, saying the United States-Mexico-Canada Agreement (USMCA) will “govern nearly 1.2 trillion [dollars] in trade, which makes it the biggest trade deal in the United States’ history.”
The President is hoping to sign the new trade deal before the Thanksgiving holiday along with Canadian Prime Minister Justin Trudeau and outgoing President Enrique Pena Nieto of Mexico. Although he acknowledged the months-long tension between himself and Trudeau, President Trump said, “He’s a good man and he loves the people of Canada…It’s all worked out.”
When it comes to passing the deal through a Congress fraught with party-line aggression, President Trump told reporters that he may have “other alternatives” if lawmakers attempt to block the deal. Nevertheless, he feels confident that the deal will go through.
“The Republicans love it. Industry loves it. Our country loves it. If it’s fair, it will pass easily. It’s a great deal,” Trump said.
When speaking on the global trade situation outside the presumed USMCA, the President stated that it is a “privilege” for foreign nations to do business with the U.S.
“And I’m not talking about Mexico, Canada,” he said. “I’m talking about everybody. Everybody…It’s a privilege for China to do business with us. It’s a privilege for the European Union, who has treated us very badly, but that’s coming along.”
Foreshadowing some upcoming talks to strike new trade deals, Trump said his “strategy was bearing fruit” with China who “wants to talk very badly.” Moreover, he claimed that India, his self-described “tariff king,” wants to start trade talks “immediately.”