Trump announces 'really good' NAFTA deal with Mexico

Trump announces 'really good' NAFTA deal with Mexico

Trump announces 'really good' NAFTA deal with Mexico

After months of negotiations, President Donald Trump on Monday announced the United States and Mexico have come to an agreement on revisions to key parts of the North American Free Trade Agreement (NAFTA) - a trade agreement between the United States, Canada and Mexico.

They said nothing could come from Trump's unilateral imposition of tariffs in order to get foreign governments to negotiate seriously.

Trump finalized negotiations Monday following talks Sunday led by Trump's son-in-law and White House adviser Jared Kushner, along with US Trade Representative Robert Lighthizer.

The North American Free Trade Agreement (NAFTA) has drawn most of Trump's criticism.

"They used to call it NAFTA, we're going to call it the United States Mexico Trade Agreement", Trump said from the Oval Office, saying NAFTA has a negative connotation.

He said that talks with Canada will begin soon and that teh country could join the agreement or sign their own bilateral deal with America depending on what was agreed.

US President Donald Trump, a frequent critic of the existing deal, announced the apparent breakthrough on Monday. Officials will have to decide whether to succumb to pressure from a joint agreement between the USA and Mexico or risk economic insecurity.

The 24-year-old trade agreement generally prevents the three parties from imposing tariffs on imports from one another.

Al Jazeera's John Holman, reporting from Mexico City, said outgoing President Nieto "probably had to make sacrifices" to protect a trade agreement with the United States, with a possible effect being the flight of vehicle manufacturing companies from the country.

Canada's foreign minister, Chrystia Freeland, spent most of her time on visits to the US lobbying governors and congressmen rather than talking seriously to our trade negotiators. It would also require 40% to 45% of the auto to be made by workers earning at least $16 an hour. But what Trump's going for here is headlines saying he won ... and too many US media outlets will probably give him that.

The president said that he will be calling Canadian Prime Minister Justin Trudeau.

The NAFTA talks have dragged on for a year. Trump's chief agricultural negotiator, Gregg Doud, said talks with Canada have been "really, really hard". A draft fact sheet specified the content would be made in the United States and Mexico.

On autos, for instance, Canada told the the spring that it was willing to agree to what the Americans want. The recent push for a deal is in part to have it signed before the new president takes office in December.

How quickly Canada will rejoin talks remains unclear.

In the moments leading up to the call, Trump struggled to figure out how the heck the phone works, which wound up being a painfully awkward sight worthy of the Veep closing credit treatment.

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