The United States, Canada, and Mexico signed a North American trade pact on November 30, with President Donald Trump brushing aside concerns that he could face difficulties getting the deal through the US Congress.
"This has been a battle and battles sometimes make great friendships so it's really terrific", Trump said.
While Trump hailed the revised trade pact, Trudeau was more measured, saying there was still work to be done and calling on Trump _ using his first name _ to remove steel and aluminum tariffs the U.S. imposed on Canada and Mexico. However, he lamented the deal doesn't remove tariffs on Canadian steel and aluminum, urging for more work to be done on this issue.
After a protracted and tenuous negotiation period, leaders from the U.S., Canada and Mexico officially agreed on a revised trade pact Friday - but the one thing they seem unable to settle on is what the agreement should be called.
The USMCA replaces the North American Free Trade Agreement, which had created a free trade zone between the three North American countries in 1994.
"Tariffs on imports of steel and aluminum are entirely inconsistent with the overall goals of the USMCA", according to a letter signed by the U.S. Chamber of Commerce and groups representing auto, chemical, grocery, retail and agricultural interests.
A particular sore point for the Canadian prime minister are the USA tariffs on steel and aluminium imposed earlier this year and he said these should be removed.
The agreement sets new rules on agriculture, technology and auto imports, protects autoworkers' jobs in the USA and opens Canada to American dairy products.
A side letter to the September agreement showed that Trump preserved the ability to impose threatened 25 per cent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico.
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BUENOS AIRES, Argentina President Donald Trump and the leaders of Canada and Mexico signed a revision of the quarter-century-old North American Free Trade Agreement early today, but their ceremony did not disguise the tensions remaining or lessen the doubts of whether a new Congress would approve the pact. All of our countries will benefit greatly.
Meanwhile, the deal still needs to be ratified by lawmakers in all three countries. Unmet in the new deal, they say, are their demands to "restore local and national sovereignty over farm and food policy; stop corporate giveaways in trade agreements; and ensue economic viability and resilience in rural communities".
Mr Pena Nieto, who will be replaced on Saturday with Mexico's newly-elected president, has sold the deal to his people as a victory, saving free trade from a U.S. president who wanted to see it killed.
Said TRUMP: "The USMCA is the largest, most significant, modern and balanced trade agreement in history". It covers the same three countries as before.
Legislative approval is the next step in the process, but could prove to be a hard task in the United States, especially now that Democrats - instead of Trump's Republicans - will control the House of Representatives come January.
As the G20 summit began in Argentina on Friday, the United States president told reporters that the deal "changes the trade landscape forever". The U.S. leader has touched off a global showdown over trade by threatening a broad range of tariffs to force changes in trade practices that he considers unfair to American industry.
"As Congress works on legislation for this new deal I will be working to ensure that this new deal increases market access for our Wisconsin dairy farmers and cheese makers", Baldwin said.
"As it's now written, Trump's deal won't stop the serious and ongoing harm NAFTA causes for American workers".
In one new feature, it requires that 40 percent of cars' contents eventually be made in countries that pay autoworkers at least $16 an hour - that is, in the United States and Canada and not in Mexico - to qualify for duty-free treatment.