Trump calls the USMCA the 'most important trade deal we've ever made'
President Trump on Monday announced a trade deal with Canada and Mexico, saying the updated agreement would ensure fair treatment for American workers and the manufacturing industry.
The deal, called the United States-Mexico-Canada Agreement (USMCA) is an update to the North American Free Trade Agreement (NAFTA), which Trump called the "worst trade deal ever made." The new name "has a good ring to it," Trump celebrated. "It sort of, just, works."
He said that dairy products will now be traded tariff-free with Canada, and that 40 percent of car manufacturing must now be done by "high-wage workers." He said that yogurt, milk, and ice cream were "not really being treated fairly," as some of the only products that were subject to tariffs from Canada. After butting heads with Canadian Prime Minister Justin Trudeau for several months, Trump said that tensions had come to an end through negotiation. "The only problem with Justin is he loves his people, and he's fighting hard for his people," he said.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Trump asserted that it is a "privilege" for other countries to trade with the U.S., and that the USMCA will reflect that in requiring Canada and Mexico to "treat us fairly." He called the new agreement "the most important trade deal we've ever made, by far." Watch Trump's full remarks below, via Time. Summer Meza
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.
-
Indie film's 'very brief' use of AI sparks backlash and calls for boycotts
Talking Points Did the creators of a new horror movie make a deal with the artificial intelligence devil?
By Rafi Schwartz, The Week US Published
-
Could Taylor Swift swing the election?
Today's Big Question The pop star has outsized influence — and that extends beyond the music industry
By Anya Jaremko-Greenwold Published
-
Kevin Hart awarded Mark Twain Prize
Speed Read He is the 25th recipient of the prestigious comedy prize
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published
-
Nvidia sees historic stock rise on AI chips success
Speed Read U.S. chipmaker Nvidia achieved the biggest one-day increase in value of any company in history
By Peter Weber, The Week US Published
-
New York may seize Trump's assets for $450M penalty
Speed Read The former president likely owes $600 million from two civil judgments in New York
By Peter Weber, The Week US Published