Trump hails new trade deal with Mexico and Canada as ‘historic news for our nation and indeed for the world’ | News Sponsored by

by TrumpShop.Net on Oct 01, 2018

Erica Werner Congressional reporter focusing on economic policy October 1 at 12:25 PM President Trump on Monday hailed the major revisions he was able to extract from Canada and Mexico to the 25-year-old North American trade agreement, as business executives, labor leaders, and lawmakers began poring over details. “Throughout the campaign I promised to renegotiate NAFTA and today we have kept that promise,” Trump said at a Rose Garden news conference. Calling the deal “truly historic,” Trump pledged: “It will transform North America back into a manufacturing powerhouse.” The White House, as well as leaders from Canada and Mexico, announced they had inked the deal late Sunday after Canada’s 11th hour agreement. But congressional approval is uncertain, particularly if Democrats retake control of the House in the November midterm elections. Trump was able to force Canada and Mexico to make major concessions from their initial position, but in the end the White House pulled back from some of its most stringent demands, including the possibility of terminating the North American Free Trade Agreement entirely. Business groups appeared to mainly breathe a sigh of relief, in part because Trump had floated the prospect of replacing the North American Free Trade Agreement (NAFTA) with a deal between just the U.S. and Mexico, cutting Canada out of the final discussion. It was unclear if this would be legal or practical, but it injected uncertainty into the outlook for hundreds of businesses, something that has now been alleviated. [U.S., Canada and Mexico just reached a sweeping new deal. Here’s what’s in it] “We stand ready to be a collaborative partner to ensure this agreement is ratified in all three markets because it will support an integrated, globally competitive automotive business in North America,” said Joe Hinrichs, executive vice president of Ford Motor Company. “The benefits of scale and global reach will help to drive volume and support manufacturing jobs.” Congressional GOP leaders, who generally like NAFTA, applauded the announcement of the new deal, with some saying it validated Trump’s approach to trade policy. Many Republicans had winced at Trump’s repeated threats to terminate NAFTA, and had strongly opp

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