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Trump signs new trade agreement with Mexico and Canada: NPR



President Donald Trump signed the USMCA trade deal on Friday with Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto in Buenos Aires.

Kevin Lamarque / Reuters


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Kevin Lamarque / Reuters

President Donald Trump signed the USMCA Trade Agreement on Friday, along with Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto in Buenos Aires. [18659006] Kevin Lamarque / Reuters

Updated at 8:25 am ET

President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new US-Mexico Agreement of Canada (USMCA) on Friday in Buenos Aires. 20 summits to settle a trade dispute between America and its nearest neighbors.

"Let's go," said all three leaders as they sat side by side to sign multiple copies of the deal.

Then they mixed the folders around to complete the deal, which redesigned one of the largest free trade zones in the world. After signing, they took a photo break. "Might as well," said Trump, showing the fresh signatures as the three leaders sit together.

Despite this and other impulses, Trudeau decided not to follow his colleague to celebrate his celebration – a sign, perhaps of the continuing impact of the controversial trial that was triggered when Trump imposed tariffs on Mexico and Canada earlier this year. which continue to exist.

The signing event and the comments of the Heads of State and Government have been livestreamed. You can see the event here.

YouTube

In the run-up to the signing ceremony, Canadian officials had "made it clear that they did not want to celebrate the end of a year of US attempts to twist Canada's arm." The tariffs are still valid, "the CBC reports. However, this desire was in contradiction to the wishes of Trump and Peña Nieto, both of whom preferred to portray the deal as a victory helping to consolidate their heritage.

"This was a fight, and sometimes battles close great friendships. "Trump said at the beginning of the signing ceremony.

All three countries will benefit from the deal," Trump of the USMCA said: "It's probably the largest trade deal ever made."

The USMCA (read the full text here) replaces the North American Free Trade Agreement that created a free trade area between the three countries in 1994. The agreement must be ratified before the entry into force of all three countries.

"Deal makes it Automotive sector, "reports Scott Horsley of NPR," where he places higher demands on North American content, and in particular on the high salary for vehicles that are to be duty-free. "

The USMCA deal was released in early October, Months after President Trump hit Mexico and Canada with tariffs on steel and aluminum products, this move triggered retaliatory tariffs and intense negotiations to create a new trade pact.

Trudeau, who calls the agreement "the new North American Free Trade Agreement," is raising this Risk of serious economic uncertainties arising during a trade the negotiation process – insecurity that would only have been worse and more damaging if we had not reached a new NAFTA. "

Trudeau still needs work, calling for the recent announcement by General Motors of the closure of plants in Canada and the US." a big blow.

To contact Trump said: "And Donald, it is all the more reason why we must continue working to eliminate tariffs on steel and aluminum between our countries. "

," said General Motors, "These steel and aluminum tariffs robbed him of $ 1 billion in profits last year," says Scott Horsley. In June, GM also warned the Trump administration that new tariffs could lead to "a smaller GM".

When it was hello Peña Nieto said that the trade agreement included provisions for e-commerce and information technology – issues he said it was necessary to update the NAFTA.

"One third of the agreement even includes topics that were not included in the first agreement," he said.

Peña Nieto also said that the USMCA "is the first trade agreement to contain elements that take into account the social impact of international trade, and allows for the participation of other sectors in the economy."

Workers' rights and the environment, as well as elements that seek to further develop the benefits of free trade.

The signing took place on the last day of Peña Nieto's term, the newly elected president of Mexico, Andrés Manuel López Obrador, is sworn in on Saturday.

Shortly before the signing ceremony, Peña Nieto received presidential adviser and son-in-law, Trump Jared Kushner, with the Order of the Aztec Eagle, the highest award granted to Mexico foreigners.

The move "shocked many in Mexico," as Carrie Kahn of NPR reported earlier this week, said about the outrage and anger that had spread online

Later on Friday, Trump is in another high-profile trade crisis when he is having dinner with Chinese President Xi Jinping.


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