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U.S. trade deal with Mexico and Canada announced

Trade deal reached in North America

WASHINGTON, D.C. – Under the leadership of President Donald J. Trump, the United States has reached an agreement with Mexico and Canada in the renegotiation of the North American Free Trade Agreement (NAFTA). The new United States-Mexico-Canada Agreement (USMCA) is a mutually beneficial win for North American workers, farmers, ranchers, and businesses. When finalized and implemented, the agreement will create more balanced, reciprocal trade that supports high-paying jobs for Americans and grows the North American economy.

Agreement highlights include:

•Creating a more level playing field for American workers, including improved rules of origin for automobiles, trucks, other products, and disciplines on currency manipulation.

•Benefiting American farmers, ranchers, and agribusinesses by modernizing and strengthening food and agriculture trade in North America.

•Supporting a 21st Century economy through new protections for U.S. intellectual property, and ensuring opportunities for trade in U.S. services.

•New chapters covering Digital Trade, Anticorruption, and Good Regulatory Practices, as well as a chapter devoted to ensuring that Small and Medium Sized Enterprises benefit from the Agreement.

To view the full text of the agreement between the United States, Mexico and Canada signed on November 30, 2018, click here.

While the United States, Mexico, and Canada have concluded a new, rebalanced agreement, NAFTA currently remains in effect. The USMCA can come into effect following the completion of TPA procedures, including a Congressional vote on an implementing bill.

USMCA Statements and Fact Sheets:

Joint Statement from United States Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Modernizing NAFTA into a 21st Century Trade Agreement

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Rebalancing Trade to Support Manufacturing

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Strengthening North American Trade in Agriculture

UNITED STATES–MEXICO–CANADA TRADE FACT SHEET Agriculture: Market Access and Dairy Outcomes of the USMC Agreement

UNITED STATES–MEXICO–CANADA AGREEMENT FACT SHEET Supporting America’s Small and Medium-Sized Businesses

USMCA State Fact Sheets

Grassley

U.S. Sen. Chuck Grassley of Iowa released the following statement regarding the Trump administration’s announcement that a new trade agreement has been signed by the United States, Mexico and Canada.

“As an advocate for free and fair trade, I’ve supported trade agreements that lower barriers and deliver opportunity for American farmers, workers and businesses. When President Trump first announced his plan to renegotiate NAFTA, I was skeptical and nervous about the consequences for Iowa farmers and the agricultural economy. As the process has moved forward, I’ve been impressed with the President’s ability to negotiate smartly, strongly and to the benefit of the country.

“This updated trilateral trade agreement shows that America stands ready to do business and negotiate trade agreements that create mutual economic prosperity while leveling the playing field to correct trade discrepancies that hurt U.S. interests. It modernizes America’s most important trade relationship and strengthens our ability to export more ‘made-in-America’ goods. For Iowa, it will help expand market access for dairy, eggs and poultry producers.

“Now that the agreement has been signed, the Senate Finance Committee will review it with a fine-tooth comb and have the opportunity to weigh in. As incoming chairman of that committee, I’ll work closely with committee members and the Trump administration to guide the agreement through Congress.”

Grassley recently announced he would opt to serve as chairman of the Senate Finance Committee in the 116th Congress. The Senate Finance Committee’s jurisdiction includes trade and tax policy. Grassley is also a member of the Senate Agriculture Committee and a family farmer. The United States is the world’s largest agricultural exporting country, selling one third of its product abroad. Agricultural exports account for about a quarter of farm cash receipts.

https://twitter.com/realDonaldTrump/status/1068601345949687808

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