Wednesday, President Trump signed into law a major rewrite of the rules of trade with Canada and Mexico that he said replaces the “nightmare” of a Clinton-era agreement and will keep jobs, wealth and growth in America.
President Trump made renegotiating the North American Free Trade Agreement a priority during his Y 2016 campaign.
“This is a cutting-edge, state-of-the-art agreement that protects, defends, and serves the great people of our country,” President Trump said in an outdoor signing ceremony at the White House, where the invitation list included more than 70 Republican members of Congress but no Democratic legislators. “Together we are building a glorious future that is raised, grown, built and made right here in the glorious USA.“
Canada and Mexico already represent the Top 2 export markets for US goods. But the new pact, along with the signing of a “Phase 1” agreement with China, dials down trade tensions that contributed to slowing economic growth globally.
The leaders of the US, Canada and Mexico signed the deal in late Y 2018. Legislation implementing it received overwhelming, bipartisan support in Congress after several months of negotiations between Democratic lawmakers and The Trump Administration.
President Trump made a point of praising Republican legislators for their work in passing the deal but did not mention the role of Democrats, who said that even if they were not invited to the signing ceremony, their influence was being felt.
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