NAFTA Replacement USMCA Signed at G20

NAFTA Replacement USMCA Signed at G20

After an announcement on Thursday that an agreement in principle has been reached on the 2018 farm bill, another political sticking point for farmers took a step forward on Friday. President Donald Trump, Mexican President Enrique Pena Nieto, and Canadian Prime Minister Justin Trudeau signed the new United States-Mexico-Canada Trade Agreement (USMCA) at the G20 Summit in Argentina.

“In the United States the new trade pact will support high-paying manufacturing jobs and promote greater access for American exports across the range of sectors including our farming, manufacturing, and service industries,” Trump said. “As part of our agreement the United States will be able to lock in our market access to Canada and Mexico and greatly expand our agricultural exports, something we’ve been wanting to do for many years.”

Trump added, “This is an amazing deal for our farmers. It allows them to use cutting edge biotechnology and eliminates nonscientific barriers.”

The agreement still needs to be ratified by legislative bodies from each country.

“I look forward to working with members of Congress and the USMCA partners, and I have to say it’s been so well reviewed I don’t expect to have very much of a problem, to ensure the complete implementation of our agreement.”