President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto on Friday signed the U.S.-Mexico-Canada Agreement (USMCA), a crucial step toward the NAFTA update’s entry into force.
“I must say, [President] Peña Nieto and Prime Minister Trudeau, we’ve worked hard on this agreement. It’s been long and hard. We’ve taken a lot of barbs and a little abuse. And we got there. It’s great for all of our countries,” Trump said in remarks during the signing ceremony on the sidelines of the G20 summit in Buenos Aires. “Thank you for your close partnership throughout this process. This new agreement will ensure a future of prosperity and innovation for Mexico, Canada, and the United States.”
The next steps are for the U.S. International Trade Commission to finish its report on the likely economic effects of the USMCA and submit it to Congress, which is expected in March. After receiving the report, Congress then can consider legislation to implement the agreement.
NAFTA partners expected to sign USMCA on Friday
The U.S., Mexico and Canada likely will formally ink the updated pact during the G20 summit in Buenos Aires.
23 days ago