Donald Trump to sign revised agreement with Mexico, Canada

Donald Trump to sign revised agreement with Mexico, Canada

[ad_1]

WASHINGTON – Still facing an impeachment trial in the Senate, President Donald Trump will celebrate the completion of one of his top legislative priorities Wednesday when he signs a revamped trade deal with Mexico and Canada.

The U.S.-Mexico-Canada Agreement, or USMCA, rewrites the rules for trading agriculture, manufacturing and services with the nation’s neighbors and closest trading partners.

The pact is the product of months of negotiations and replaces the North American Free Trade Agreement, or NAFTA, which essentially eliminated tariffs on most goods traded among the three countries.

The new agreement guarantees U.S. farmers greater access to Canada’s agriculture market and puts new e-commerce rules in place. It also dictates that a higher percentage of autos be made from parts manufactured in North America and requires that at least 40% of vehicle production be done by workers earning at least $16 per hour.

What’s in the deal?:From NAFTA to USMCA: Key changes on trilateral trade pact

President Donald Trump

For Trump, the revised deal marks a significant victory as he battles impeachment in the Senate and works to persuade voters to return him to office for another four years.

Trump relentlessly ridiculed NAFTA as the “worst trade deal ever” when he ran for president four years ago, arguing that it put American workers at a competitive disadvantage. Other critics, including Democrats, conceded NAFTA was outdated and needed to be revised.

[ad_2]

Source link

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.