Trump Has Signed a Trade Pact with Canada and Mexico
He promises a "glorious future" for the US industry.
President Donald Trump has signed a new North American trade pact with Canada and Mexico, promising a "glorious future" for US industry.
The treaty, drafted during the years of negotiations between the three countries, replaces the 1994 North American Free Trade Agreement or NAFTA.
Trump has long been campaigning against NAFTA, which he said has led to the deployment of US workforces overseas.
"Today, we are finally ending the NAFTA nightmare," he said at the signing ceremony of the new treaty in the White House.
In Washington, opposition Democrats have called for greater scrutiny of the reforms in Mexico promised under the new deal, including increased wages and increased power for unions.
The White House signing ceremony was broadcast live by leading US television channels.
The US, Mexico and Canada negotiated a new agreement in September 2018. In December 2019, the agreement was endorsed by the US House of Representatives and approved by the Senate on January 16.
Speaking at the World Economic Forum in Davos on January 21, Trump said the treaty was a new trade model.
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