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North American leaders sign NAFTA replacement deal

05 December 2018
North American leaders sign NAFTA replacement deal

"I will be formally terminating NAFTA shortly", Trump told reporters aboard Air Force One late Saturday as he returned to Washington from the G20 summit in Argentina.

Trump, Prime Minister Justin Trudeau and former Mexican president Enrique Pena Nieto signed the new U.S. -Canada-Mexico Agreement at the start of G20 meetings Friday in Argentina.

"President Trump campaigned against the major flaws in worldwide trade agreements that the original NAFTA created the framework for, and rightly so".

"With the signing of the US-Mexico-Canada Agreement, US beef producers are one step closer to knowing that unrestricted, science-based trade will continue in North America", he said.

A number of Democrats in Congress, empowered by their new majority in the House of Representatives, say they don't much like the new agreement in its current form either, and say they won't support it without more stringent enforcement mechanisms for new labour rules and environmental protection. "The deal eliminates Canada's unfair Class 6 and Class 7 milk pricing schemes, opens additional access to US dairy into Canada, and imposes new disciplines on Canada's supply management system", Perdue said. Grassley vowed to usher the deal through Congress, saying it'll benefit the US economy and bolster agriculture interests in the Midwest.

According to the American Farm Bureau Federation, agricultural exports to Canada and Mexico increased from $8.9 billion to $39 billion under NAFTA. There are many provisions that will be popular with constituents throughout the country, and Crawford said it would be a "gross miscalculation" by House Democrats if they try to stop or change the agreement.

The U.S. can tuck some changes into the trade deal's implementing legislation and request that Mexico and Canada go along with it.

"As a result, I owe it to New Mexicans to apply the highest level of scrutiny to this agreement to make sure that our border communities won't suffer the consequences of the administration's flawed negotiations".

Trump added, "This is an awesome deal for our farmers". I've spent time up there (Capitol Hill) talking about the USMCA and the importance of it.

Sen. Marco Rubio, R-Fla., said on Twitter that the deal as drafted "will put Florida seasonal vegetable growers out of business" by allowing Mexico to dump subsidized produce into the United States.

The agreement does include a 16-year sunset provision, but the three countries will meet every six years to decide whether to renew the pact, which potentially keeps the agreement going in perpetuity.