U.S. President Donald Trump on Monday praised Canada's entry into a reworked NAFTA pactwith the United States and Mexico after the two countries forged a last-minute agreement to salvage the trilateral trade accord, delivering a key win for the U.S. president.
The deal, announced on Sunday, helped preserve the nearly quarter-century old, $1.2 trillion open-trade zone among the three North American neighbors that Trump had long sought to rip up as part of his vow to shake up global trade.
The new United States-Mexico-Canada Agreement (USMCA) is aimed at bringing more jobs into the United States, a top Trump campaign pledge.
While it avoided tariffs, the deal will make it harder for global auto makers to build cars cheaply in Mexico and
It also preserved a trade dispute settlement mechanism sought by Canada to protect its industries from U.S. anti-dumping tariffs even as Ottawa agreed to open up its dairy markets to U.S. farmers.