US, Canada, Mexico sign new NAFTA

President Donald Trump center shakes hands with Canada’s Prime Minister Justin Trudeau as Mexico’s President Enrique Pena Nieto looks on after they signed a new United States-Mexico-Canada Agreement that is replacing the NAFTA trade deal during a

Canada on track for Friday signing of USMCA once details finalized: Freeland

Trade groups representing grocers were among the organizations to express their approval of the November 30 signing of the United States-Mexico-Canada Agreement (USMCA) - the successor to the North American Free Trade Agreement - at the Group of 20 (G20) economic conference in Buenos Aires, and urged that the measure be approved by Congress next year.

Trump forced Canada and Mexico to renegotiate the 24-year-old agreement because he said the existing pact encouraged USA companies to move jobs to low-wage Mexico.

"In addition, we urge the administration to turn its full attention to other trade issues that are harming our state, including the retaliatory tariffs China has levied on ME lobster and import taxes on steel that have significantly increased costs for manufacturers", the senators said.

- President Trump opened two days of diplomacy at the Group of 20 summit in Argentina on Friday after his abrupt decision to cancel a meeting with Russian President Vladimir Putin overshadowed the proceedings before they even started.

Trump had vowed to revamp NAFTA during his 2016 presidential election campaign.

The American-favoured acronym caused some puzzlement in the US when it was first unveiled on October 1.

"It's been long and hard".

"We've taken a lot of barbs and a little abuse", he said.

Trudeau made a personal plea to Trump during the ceremony to get rid of the tariffs, saying the recent closures of auto plants by General Motors in the United States and Canada made it more important. Before signing the deal he continued to refer to as "the New NAFTA", Trudeau told Trump the two should continue to work together to eliminate steel and aluminum tariffs.

President Donald Trump Canada’s Prime Minister Justin Trudeau right and Mexico’s President Enrique Pena Neto left participate in the USMCA signing ceremony Friday Nov. 30 2018 in Buenos Aires Argentina
Trump signs trade deal with Canada and Mexico

The signing was done on Pena Nieto's last day in office, a target the countries had pushed for in a bid to have it sealed before his successor, Andres Manuel Lopez Obrador, takes power Saturday.

The United States, Canada and Mexico finally signed a new trade deal following intense negotiations. Canada has said it will lift its tariffs once the US lifts its own.

Democratic Representative Bill Pascrell, in line to become the new chairman of the House Ways and Means Subcommittee on Trade, has said he thinks the deal still has a tough road ahead. To avoid confusion, she has opted to called it "new NAFTA". Carmakers had strong reactions to the United States-Mexico-Canada agreement (USMCA) reached this week.

Democrats have signaled they won't support the deal without additional protections for workers, though it calls for more safeguards than the agreement it would replace. He struck a more optimistic note on Friday, saying, "It's been so well-reviewed, I don't expect to have very much of a problem". Negotiators from all three countries began talks on updating it more than a year ago.

US tariffs on steel and aluminum remain in place, but a Canadian official said an advantage to signing onto the agreement now is an auto side letter exempting Canada of potential tariffs on exports of up to 2.6 million vehicles - well above current levels. "The existing text. grants the US oversight into the administration of our Canadian dairy system, which undermines Canadian sovereignty and ability to manage Canadian dairy without USA intervention".

It also requires Mexico to pursue an overhaul of labor law to encourage independent unions that will bargain for higher wages and better working conditions for Mexicans.

In June this year, Washington introduced a 25-percent tariff on steel imports and a 10-percent tariff on aluminum imports from Mexico, Canada and the EU.

The new trade pact would bring to the United States high-paying manufacturing jobs and boost exports in various sectors, including farming, manufacturing, and service industries, he said. Trump's economic adviser Kudlow said that the administration believed that changes to NAFTA would make this type of closures unnecessary, but the management at GM apparently disagrees.

Former US President George HW Bush dies aged 94
Bush's passing", White House press secretary Sarah Sanders said from Buenos Aires, where Trump is attending the G20 summit. He worked with Clinton, Jimmy Carter, Barack Obama and son George to raise money for hurricane victims in Texas in 2017.

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