Canada, buoyed by trade deal, to push US on metal tariffs

Canada, buoyed by trade deal, to push US on metal tariffs

Additionally, while speaking to reporters, Trump said that USMCA, which "has a good ring to it", is about fairness and reciprocity. "This was the least hard part".

The new deal avoids the collapse of the North American Free Trade Agreement or NAFTA, which was rolled out in 1994.

"Not just in the crops we send back and forth across the border, but, for instance, the largest importing product from Montana into Saskatchewan is wheat of all things, where we add value to that product and send it on", Moe says. "What we were not prepared to do was to change our system, because that's our business, not anybody else's". The president, long a NAFTA critic, has complained that the original treaty cost the United States millions of factory jobs and led to persistent USA trade deficits with its southern neighbor.

But Canada also had to agree to offer more access to its highly protected dairy market, which infuriated the influential farming lobby.

And he cheered the fact it will give American farmers and dairy producers greater access to markets in Canada and Mexico, protect auto manufacturing jobs and encourage innovation on USA soil.

The Trump administration had imposed a midnight Sunday deadline for Trudeau's government to reach agreement on an updated NAFTA or face exclusion from the treaty.

Canada, along with Mexico, took a "do no harm" approach to the talks, and there were early indications the Trudeau government succeeded in preserving the status quo in key areas, even though it faced criticism for giving the USA concessions on dairy.

Trump said he plans to sign the new agreement by end of November.

The revamped NAFTA deal - dubbed the United States-Mexico-Canada Agreement, or USMCA - was nearly 14 months in the making and has 32 chapters, 11 annexes and 12 side letters.

"Once approved, this will be a new dawn for the American auto industry and for the American auto worker", President Trump said.

Canada wanted the U.S.to drop the tariff - along with a 10 percent import tax on another construction-relate material, aluminum - as part of the new deal.

Canada reaches 11th-hour NAFTA deal with U.S., Mexico
However, the deal is expected to contain key provisions on Canada's dairy industry and auto exports to the US. U.S. farmers will have access to about 3.5% of Canada's dairy market, Reuters reported , citing sources.

The Trump administration officially notified Congress of the U.S. -Mexico trade agreement on August 31.

The replacement for NAFTA includes new provisions on digital trade and intellectual property.

"If the federal government wants to increase the benefits for consumers, what it could do is take the customs duties off the products that Canadian merchants import", he said.

The U.S. had demanded a sunset clause that would kill NAFTA after five years unless the countries agreed to extend it.

Canadian, U.S. and Mexican politicians have been negotiating for months over what to keep, what to lose and what to compromise within the agreement, which oversees all trade relations between the three countries.

"I don't think any country would like someone to be in their critical trade negotiations that was not tough", she said.

But the treaty was controversial from the start.

The United States-Mexico-Canada Agreement unveiled on Sunday night has provisions that are expected to benefit the US and Canadian auto industries, including requiring 75 per cent of a vehicle be produced in North America, up from 62.5 per cent, and USA quotas that are far above Canadian exports. Critics included American labor unions and Ross Perot, a businessman and third-party presidential candidate, who warned of a "giant sucking sound" as employers would relocate jobs to low-wage Mexico.

"USMCA will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region", Freeland said in a joint statement with USA trade ambassador Robert Lighthizer.

"It is a good night for Mexico, and for North America", Mexican Foreign Minister Luis Videgaray tweeted.

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