The U.S.-Mexico-Canada Agreement, known as USMCA, is not NAFTA re-done according to President Donald Trump. It is a new trade deal between the three countries. The deal was reached just before the deadline at the end of September, and Monday at the White House the President said it has strong new labor, environmental and intellectual property protections. He said it is also a great victory for American farmers.
“Our farmers have gone through a lot over the last fifteen years,” he said. “They’ve been taken advantage of by everybody, prices have gone way down. Mexico and Canada will be opened up a lot more than they are now, and I think there will be a better spirit between the three countries, which is important for our farmers. The agreement will give our farmers and ranchers far greater access to sell American grown produce in Mexico and in Canada. The deal includes a substantial increase in our farmers’ opportunities to export American wheat, poultry, eggs and dairy, including milk, butter, cheese, yogurt and ice cream.”
U.S. Trade Representative Robert Lighthizer said the agreement is historic in its value, “the USMCA will cover $1.2 trillion, easily making it the biggest agreement in history.” And it came together in just 14 months, “and believe me in trade negotiating terms that’s like warp speed.”
“We’ve also agreed to a first of its kind review and termination provision, which will insure that the USMCA, unlike NAFTA, will not become unbalanced and out of date.”
The U.S., Canadian and Mexican legislatures now must ratify the agreement, and some would like that done by December 1st, before the change of administration in Mexico.
While anxious to review the details of the new agreement, the nation’s major commodity organizations applauded the last hour inclusion of Canada, at the same time the farm bill expired.
(Official White House Photo by Stephanie Chasez)