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The President of the United States, Donald Trump, announced Friday (30), at the meeting of the 20 largest economies in the world, the G20 summit, the renewal of the trade agreement between the United States United States, Mexico and Canada. replaces the North American Free Trade Agreement (NAFTA) and is now known as the United States-Mexico-Canada Agreement (USMCA), or T-MEC, in Spanish.
The agreement saves a $ 1.2 trillion free trade zone in three countries, about to collapse after nearly 25 years. The agreement still has to pbad the approval of the congresses of the three countries to enter into force. Nearly 500 million people live in the region.
The new version of NAFTA, in effect since 1994 between the United States, Canada and Mexico, began to be renegotiated in 2017 at the request of US President Donald Trump, who considered the new version of the NAFTA to be in force. agreement as a "disaster" for his country.
For Trump, the agreement is "revolutionary" and will guarantee a "future of prosperity and innovation" for the three nations. "It's a model agreement that changes the business landscape forever," Trump said at the announcement of the Buenos Aires trade deal. He posted the video of the announcement of the transaction on his Twitter profile.
href = "https://twitter.com/hashtag/USMCA?src=hash&ref_src=twsrc%5Etfw" url = "https://twitter.com/hashtag/USMCA?src=hash&ref_src=twstc=tw") #USMCA <! –
> https://t.co At the announcement, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto also participated in the announcement.
Peña Nieto declared that the renewed trade agreement opened "a new stage" in relations with neighboring countries and offered a "more inclusive, firm and modern" basis for regional trade.
"Trade agreements can not remain static, they must evolve according to the needs of our economy," said Peña Nieto during the signing ceremony, the last day of his term, taking Andres Manuel López Obrador Saturday.
US Trade Representative Robert Lighthizer, Mexico's Secretary of the Economy, Ildefonso Guajardo, and Canada's Foreign Minister Chrystia Freeland signed the pact in Buenos Aires.
According to the Reuters news agency, the deal was concluded despite the latest details giving rise to trade disputes on the eve of the signing.
The countries agreed in principle to establish rules of mutual trade after a year and a half of intense negotiations, which resulted in an agreement just one hour before the deadline of 30 September.
According to Reuters, the most delicate points of the agreement had not yet been defined just hours before authorities sat down and signed the pact when the G20 summit took place. started in Buenos Aires.
Trump's main goal during the NAFTA recast was to reduce the US trade deficits, a goal that he also pursues with China, imposing hundreds of billions of dollars in tariffs on products imported from the Asian giant.
Although the new agreement avoids tariffs, it will make it more difficult for manufacturers to build low-priced cars in Mexico and aims to create more jobs in the United States, reports Reuters.
The new deal is seen as a major victory for Trump, who is forcing Canada and Mexico to accept a more restrictive trade with their main export partner.
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