The agreement has been hailed as a major victory for Trump

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[h=2]Trade ministers from the US, Canada and Mexico reach last-minute agreement to revamp the NAFTA deal after a YEAR of negotiations and a war of words between Trump and Trudeau[/h][FONT=Arial, Helvetica, sans-serif]
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The Trump administration announced the new pact - which is being called the USMCA (United States-Mexico-Canada Agreement) - mere hours before the self-imposed September 30 deadline. The agreement has been hailed as a major victory for Trump, who is now one giant step closer to delivering on his key campaign promise to overhaul NAFTA. Canadian Prime Minister Justin Trudeau also expressed satisfaction with the agreement as he left an emergency Cabinet meeting in Ottawa (bottom), telling reporters: 'It’s a good day for Canada.'
 
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[h=2]Trade ministers from the US, Canada and Mexico reach last-minute agreement to revamp the NAFTA deal after a YEAR of negotiations and a war of words between Trump and Trudeau[/h]
  • The US, Canada and Mexico have been negotiating the terms of a revised North America Free Trade Agreement for more than a year
  • The Trump administration announced a deal had been reached late Sunday night
  • The new pact is being called the United States-Mexico-Canada Agreement
  • The agreement is a giant step toward Trump delivering on his key campaign promise to overhaul NAFTA
 
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US President Donald Trump and Canadian Prime Minister Justin Trudeau reportedly reached a deal on a revised North America Free Trade Agreement (NAFTA) late Sunday evening, according to officials briefed on the negotiations. The leaders are pictured together in June
 
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Trudeau is pictured leaving an emergency meeting to discuss the potential NAFTA deal late Sunday night in Ottawa, Ontario
 
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The US, Canada and Mexico have agreed to an updated version of the North America Free Trade Agreement following a year of agonizing negotiations.
The Trump administration announced the new pact - which is being called the United States-Mexico-Canada Agreement - mere hours before the self-imposed September 30 deadline.
The agreement has been hailed as a major victory for Trump, who is now one giant step closer to delivering on his key campaign promise to overhaul NAFTA, which he called 'the worst deal maybe ever signed'.
A senior administration official told Politico late Sunday: 'It’s a great win for the president and a validation for his strategy in the area of international trade.'
Canadian Prime Minister Justin Trudeau also expressed satisfaction with the agreement as he left an emergency Cabinet meeting in Ottawa.
'It’s a good day for Canada,' Trudeau told reporters.
 
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Trudeau called an emergency meeting with his ministers at 10pm Sunday in Ottawa as senior government officials reported the US and Canada were on the brink of striking a deal.
Negotiators for both countries worked tirelessly over the weekend to meet the Trump administration's deadline.
According to a joint statement from US Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland, the deal 'will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home'.
The statement continued: 'We look forward to further deepening our close economic ties when this new agreement enters into force.'
 
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Sources briefed on the details of the reconstructed deal - which officials from all three countries began negotiating more than a year ago - have said it allows the US greater access to Canada's dairy market and also addressed concerns about auto tariffs.
Under the pact, Trump will maintain the ability to impose threatened 25 percent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico, according to a side-letter to the agreement revealed to Reuters on Monday.
Should Trump impose 'Section 232' autos tariffs on national security grounds, Mexico and Canada would each get a tariff-free passenger vehicle quota of 2.6 million passenger vehicles exported to the United States annually.
Pickup trucks built in both countries will be exempted entirely, the side-letter said.
Mexico will get an auto parts quota of $108billion annually, while Canada will get a parts quota of $32.4billion annually in the event of US autos tariffs.
The quotas are significantly above existing production volumes in each country, allowing for some export growth.
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Canadian Minister of Foreign Affairs Chrystia Freeland and Gerald Butts, senior political advisor to Trudeau, are pictured walking in the loading dock of the Office of the Prime Minister and Privy Council in Ottawa on Sunday amid reports of a last-minute Cabinet meeting

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Canadian Agriculture and Agri-Food Minister Lawrence MacAulay (left) and Finance Minister Bill Morneau (right) arrive for the emergency cabinet meeting on the NAFTA negotiations
 
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Congress will now be given 60 days to review the new deal and suggest changes before Trump can sign it.
Officials are said to be bracing for what may be a battle to get the agreement through the legislative body.
The Trump administration hopes to have the leaders of all three countries sign the agreement by the end of November, before Mexican President Enrique Peña Nieto passes the baton to his successor.
Canada, the United States' No 2 trading partner, had been left out when the US and Mexico reached an agreement last month to revamp NAFTA.
The Trump administration was due to make a preliminary draft of that agreement public on Monday.
Trump had said he wanted to go ahead with a revamped NAFTA with or without Canada, but it was unclear whether he had authority from Congress to pursue an agreement with only Mexico.
Several lawmakers went on the record to say they wouldn't go along with a deal that left out Canada.
Earlier, White House trade adviser Peter Navarro said on Fox News Channel's 'Sunday Morning Futures' that by Monday morning 'you will have some news one way or another that will... be big and perhaps market-moving.'
Among other things, the negotiators battled over Canada's high dairy tariffs. Canada also wanted to keep a NAFTA dispute-resolution process that the US wanted to jettison.
As US-Canada talks bogged down earlier this month, most trade analysts expected the September 30 deadline to come and go without Canada being reinstated.
They suspected that Canada, which had said it wasn't bound by US deadlines, was delaying the talks until after provincial elections Monday in Quebec, where support for Canadian dairy tariffs runs high.
 
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Donald J. Trump‏Verified account @realDonaldTrump 2h2 hours agoMore



Late last night, our deadline, we reached a wonderful new Trade Deal with Canada, to be added into the deal already reached with Mexico. The new name will be The United States Mexico Canada Agreement, or USMCA. It is a great deal for all three countries, solves the many......




Donald J. Trump‏Verified account @realDonaldTrump 1h1 hour agoMore



.....deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduce Trade Barriers to the U.S. and will bring all three Great Nations closer together in competition with the rest of the world. The USMCA is a historic transaction!




Donald J. Trump‏Verified account @realDonaldTrump 1h1 hour agoMore



....deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduces Trade Barriers to the U.S. and will bring all three Great Nations together in competition with the rest of the world. The USMCA is a historic transaction!
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Butt not something libtard nation understands




PS: You know the fucking idiots are pissed, probably not getting much play on their networks
 
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Gas Man said:
Gas prices going up up as well
Click to expand...
Now that we are the largest crude oil producer in the world it bodes well for the country.
I just wish some of that gravy would spill over on to the prices at the pump.
 
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