Trade Deal with Canada and Mexico

Trump signs new Trade Deal with Canada and Mexico

LATEST WORLD

WASHNGTON – President Donald Trump has symbolically signed the revised North American trade agreement at the G-20 summit in Argentina, he moves a step closer to delivering on a campaign promise — to replace NAFTA or terminate it — after a week fraught with negative economic headlines.

Just Tuesday, General Motorsannounced that, in light of the new deal, it was laying off 15 percent of its workers and shuttering five plants in the U.S. and Canada.

The president had boasted that the renegotiated and renamed USMCA deal– the U.S. Mexico Canada Agreement — would have just the opposite effect.

The president had boasted that the renegotiated and renamed USMCA deal– the U.S. Mexico Canada Agreement — would have just the opposite effect.

Although the deal that Trump announced Oct. 1 with great fanfare has been symbolically signed, it still needs to be approved by the legislatures in all three countries. Because it is unclear — even unlikely — that Congress will vote on it before the current session ends in December, the deal could face new challenges in 2019. If approved, it would likely take effect around Jan. 1, 2020.

Courtesy – ABCN