Canada, U.S. Reach NAFTA Deal, Now USMCA

Eli Ridder | CANADA | Special Report

(71 Republic) – A major eleventh hour Canadian effort involving Prime Minister Justin Trudeau, Canada’s foreign minister and ambassador to the United States has resulted in a deal between Canada and the U.S. for a new trilateral North American Free Trade Agreement just hours before a midnight deadline on Sunday.

A joint statement released by U.S. Trade Representative and Foreign Affairs Minister Chrystia Freeland confirmed reports that the new deal is set to move forward, saying the agreement will be coined the United States-Mexico-Canada agreement, or USMCA.

Although the details have yet to be publicly announced, officials confirmed that the 13-month negotiation that saw tough banter between U.S. President Donald Trump and Mr. Trudeau is now over and the three countries have reached an agreement.

Mr. Trump repeatedly threatened to cancel NAFTA with Canada and instead tax auto imports up to 35 per cent, and tensions escalated after Washington reached a deal with Mexico City that left Ottawa out of the loop.

Trump will still have to sign the deal ahead of sending it to Congress along with the Mexican deal text, but a Reuters report citing sources said that he has approved the agreement.

“It’s a good day for Canada,” Trudeau told reporters as he left his parliamentary office in Ottawa late on Sunday, saying more details will be announced on Monday.

The deadline is based off the requirement that the full text of a new agreement be published 60 days before it can be signed by Congress, and the White House wants a deal before the current Mexican President leaves office in the coming months.

More Details To Soon Follow