Skip to main content

Trump claims win as US, Mexico, Canada sign new trade deal

trade deal

BUENOS AIRES: The leaders of the United States, Mexico and Canada on Friday signed a huge regional trade deal to replace the old NAFTA, denounced by President Donald Trump as a killer of US jobs.

“This is a model agreement that changes the trade landscape forever,” Trump said at the signing ceremony in Buenos Aires, on the sidelines of a G20 leaders’ summit.

Trump said negotiating the deal known in Washington as the US-Mexico-Canada Agreement, or USMCA, had seen the leaders take “a lot of barbs and a little abuse.”

But he insisted that the “incredible milestone” would aid US workers, especially in the auto industry, while putting in place “intellectual property protection that will be the envy of nations all around the world.”

Canadian Prime Minister Justin Trudeau was less effusive about the renegotiated pact, but said the USMCA would resolve the threat of “serious economic uncertainty” that “would have gotten more damaging.”

While praising the “historic” nature of the deal, Trudeau also told Trump that the progress gave “all the more reason why we need to keep working to remove the tariffs on steel and aluminum between our countries.”

Read More: World leaders set to convene Argentina summit clouded by disputes

Mexican President Pena Nieto, on his last day in office, called the revamped version of NAFTA important in shoring up “the view of an integrated North America with the firm belief that together we are stronger and more competitive.”

For Trump — whose G20 diplomacy is overshadowed by legal troubles back home and his abrupt cancellation of a bilateral meeting with Russian President Vladimir Putin — the signing was a victory.

He said he did not foresee a problem in getting congressional approval. “It’s been so well reviewed I don’t expect to have very much of a problem,” Trump said.

On Saturday, he will meet with Chinese counterpart Xi Jinping to address the trade war triggered by Trump’s insistence on China ending what he says have been decades of unfair trade practices.

 ‘Polluting legacy’

While the leaders presented a united front, Trump’s tearing up of the old NAFTA, which he has repeatedly ridiculed, was a shock to the system that prompted months of severe tensions between the long-peaceful neighbors.

Trump himself acknowledged that it hadn’t been easy, but said “battles sometimes make great friendships.”

Even at the signing ceremony, there were echoes of the uncomfortable background to the USMCA, which Trump has made exhibit number one in his case to voters that he is putting “America first.”

All three leaders stood at lecterns adorned with the US presidential seal, with Trump taking the middle position.

But while Trump proudly refers to the USMCA — a title that again puts the United States in the leading position — Trudeau pointedly called the deal being signed the “new North American Free Trade Agreement” and the “modernizing NAFTA.”

Mexico has its own version in Spanish, accentuating its name first.

For the Sierra Club, a US environmentalist group, the “hastily sealed” deal will promote Trump’s “polluting legacy for years after he leaves office (via) special handouts to corporate polluters like Chevron and ExxonMobil.”

But in a statement, US Treasury Secretary Steven Mnuchin said the updated pact “marks a critical step in modernizing and rebalancing North American trade.”

“The new agreement secures strong outcomes for farmers, ranchers, businesses, and workers across North America, including in areas such as auto manufacturing and intellectual property.”

The post Trump claims win as US, Mexico, Canada sign new trade deal appeared first on ARYNEWS.

Comments

Popular posts from this blog

Police arrest another suspect in Rimsha Wassan murder case

KHAIRPUR: Police on Tuesday arrested another suspect in Rimsha Wassan murder case during a raid in Khairpur, ARY News reported. Police said suspect Hidayatullah was arrested during the raid and weapons were recovered from his possession. They said the arrested suspect was a close aide of Zulfiqar Wassan, Sabir Wassan and Abdul Ghaffar. “The suspect will be produced before the Anti-Terrorism Court for remand,” said police. On March 19, an anti-terrorism court (ATC) had extended the remand of three suspects in Rimsha murder case for three more days for further investigations. Hearing the Rimsha murder case, the court, on the request of police, had decided to extend the physical remand of the suspects for three more days. Read More:  ATC extends suspects’ remand in Rimsha murder case According to the details, police had produced the prime suspect, Zulfiqar Wassan alias Zulfoo , his associates nominated in the case, Ghaffar Wassan and Sabir Wassan before the court amid strict se...

Sajal Aly, Ahad Raza Mir are already sending out wedding invites

Pakistan’s hot favourite celebrity couple Sajal Aly and Ahad Raza Mir are all set to tie the knot soon.  The pair has already started sending out wedding invitations to friends and family as fans eagerly wait for one of the biggest celebrity weddings of the year. The actors invited British Deputy High Commissioner, Mike Nithavrianakis, to their big day, who took to Twitter to share that it was wonderful meeting them. Thank you! Hope to see you at the wedding @MikeNith1 https://t.co/YtOOYBJuhq — Sajal Ali (@Iamsajalali) February 28, 2020 “They’ve been ‘married’ on-screen several times. Now for the real deal. Best wishes to them both,” he wrote. The Mom actress thanked him and said “Hope to see you at the wedding.” Earlier, a photo of a cake which had ‘Ahad aur Sajal ki dholki’ written over it went viral. The lovebirds got engaged in July last year after dating for a while. The post Sajal Aly, Ahad Raza Mir are already sending out wedding invites appeared first on...

India’s coronavirus cases rise by a daily record of 55,078

BENGALURU: India reported another record surge in daily COVID-19 cases on Friday, taking the total to 1.64 million, as the government further eases virus curbs in a bid to resuscitate the economy, while also trying to increase testing. Infections jumped by 55,078 in the past 24 hours, while the death toll rose by 779 to 35,747, the Ministry of Health and Family Welfare said on its website. The ministry also said it aimed to raise the country’s capacity to 1 million coronavirus tests per day in the medium term, from a record 600,000 on Friday. The federal government this week announced the reopening of yoga institutes and gymnasiums, and removed restrictions on the movement of people and goods. The post India’s coronavirus cases rise by a daily record of 55,078 appeared first on ARY NEWS .