President Trump led a 37-minute celebration of the new NAFTA on Wednesday, signing the United States-Mexico-Canada Agreement on the White House lawn during a ceremony packed with laudatory descriptions of the “very, very special” tri-national free trade agreement. Federal analysts say the USMCA, when fully implemented, will increase U.S. food and agricultural exports by 1.1 percent.
The Canadian government of Prime Minister Justin Trudeau was expected to unveil legislation as early as Wednesday to implement the new free trade pact for the three largest nations in North America. Mexico ratified the USMCA last summer, and with Trump’s signature on legislation to implement the USMCA, Canada is the last of the three nations to act. Deputy Prime Minister Chrystia Freeland urged ratification “without undue delay,” reported the National Post. “The signing of the deal would also mark what is likely to be one of the few legislative wins for the Trudeau Liberals this session,” who run a weakened minority government following last fall’s elections.
“This is a colossal victory for our farmers, ranchers, energy workers, factory workers, and American workers in all 50 states and, you could almost say, beyond — because it’s all beyond,” said Trump. “And it’s a day of great celebration in all three countries.” Trump said the USMCA would mean large dairy, poultry, and egg exports to Canada. “Very importantly,” he also said, “Canada will finally give fair treatment to American-grown wheat.”
Canada and Mexico, the two largest U.S. food and ag trading partners, are responsible for one-third of trade in the commodities. The USMCA maintained a key provision of NAFTA for the U.S. ag sector: duty-free access for most U.S. ag exports to the two neighbors.
The USMCA was the second of two trade victories for Trump this month, the other being the signing of the “phase one” agreement to de-escalate the trade war with China. That agreement calls for China to double or triple its annual volume of purchases of U.S. ag exports.
To read comments by Trump and other U.S. officials at the USMCA signing, click here.