Speed Reads

introducing USMCA

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.

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