US, Mexico and Canada sign new USMCA trade deal

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

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

Legislators from the three countries still have to approve the pact, officially known as the United States-Mexico-Canada Agreement (USMCA), before it goes into effect and replaces the North American Free Trade Agreement (NAFTA).

Mr Trump hailed a political victory, having lamented the "terrible" North American Free Trade Agreement (Nafta) since the early days of his presidential run.

Mexico's President Enrique Pena Nieto joined the ceremony on his last day in office.

Signing on to the three-way trade agreement alleviates the serious economic uncertainty that lingered throughout the negotiations, Trudeau said, adding uncertainty would have only caused more economic damage had the deal not been reached. "We've taken a lot of barbs and a little abuse and we got there". Directly addressing Trump, he said, "Donald, it's all the more reason why we need to keep working to remove the tariffs on steel and aluminum between our countries".

Under the new pact, 75 percent of automobiles content must be manufactured in North America. However, ongoing differences over steel and aluminium tariffs the US has imposed on its northern and southern neighbours encroached on the celebratory moment. All eyes will be on a planned dinner between Trump and Chinese President Xi Jinping on Saturday to see whether they can make progress toward resolving differences threatening the global economy. USA objections to Canada's protected internal market for dairy products was a major challenge facing negotiators during the talks, and Trump repeatedly demanded concessions and accused Canada of hurting US farmers.

There is more work to be done, Trudeau said, calling the recent announcement that General Motors will close plants in Canada and the United States "a heavy blow".

"With 2 million American jobs dependent on exports to Canada and Mexico, Congress should move expeditiously to review the USMCA before the end of this year". Democratic Senator Elizabeth Warren said she would vote against the pact unless it is reopened to toughen labour and environmental standards, and does more to stop US companies from moving to Mexico. He said that NAFTA had a bad connotation in the US due to the negative effects of the agreement in the country, and that it is better to start fresh.

Uganda boat which sank was carrying more than twice its capacity
Video footage said to be of revellers on the boat before it capsized showed them dancing and drinking while posing for the camera. At least 35 people died in a boat accident on Lake Victoria in Uganda on Saturday, according to the Ugandan Police Force.

But although the agreement has been signed it must be ratified by the legislative bodies of all three countries.

"With hard work, good will and determination I'm confident that we will get there", Trudeau said.

Trump signed the agreement with the LGBT provisions intact even though a group of 38 House Republicans led by Rep. Doug Lamborn (R-Colo.) urged him to seek removal of that language, insisting the agreement "is no place for the adoption of social policy".

Trump could also face some opposition to the new deal, with House Democrats returning to power in January.

"Our nations have also agreed to innovate new measures to ensure fair competition and promote high wages and higher wages for U.S. and North American workers, the. workers are tremendous beneficiary".

Trump's decision to slap tariffs on $250 billion of Chinese imports resulted in Beijing placing penalties on $60 billion of USA products.

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. "It is probably the largest trade deal ever made, also". Canada, however, has refused to limit future exports to the USA but has pledged to assist the U.S.in limiting cheap steel imports from China, Eric Miller, president of Rideau Potomac Strategy Group, told the Washington Post.

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