US, Canada, Mexico sign trade deal, Trump shrugs off Congress hurdle

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'Donald it's all the more reason we need to remove the tariffs on steel and aluminum between our two countries, ' Trudeau said.

Trudeau also brought up the recent announcement by General Motors that the company will be closing several factories in both the USA and Canada, calling it a "heavy blow".

President Donald Trump signed a new trade deal with Mexico and Canada at a ceremony Thursday in Buenos Aires, Argentina, predicting it would be "the envy of nations all around the world". It was signed almost 25 years after the North American Free Trade Agreement first came into effect.

The vast majority of the pact still needs to be ratified by lawmakers in the three countries but the signing enacts a handful of immediate protections, such as from auto tariffs.

The opposition Democrats take control of the House in January. During the contentious negotiations that led to the USMCA, Trump repeatedly threatened to pull out altogether.

In an open letter to Prime Minister Justin Trudeau, the Dairy Farmers of Canada warn the PM that the current text of the new USMCA agreement contains a provision that would grant the United States oversight into the administration of the Canadian dairy system, something they claim will undermine Canadian sovereignty.

"This has been a battle, and battles sometimes make great friendships", Trump said at the beginning of the signing ceremony.

At the event, on the sidelines of an global summit opening in Buenos Aires, Trump touted the hard-fought deal as "a truly groundbreaking achievement" and proudly held up the signed agreement for the cameras at the conclusion of a short ceremony.

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Every time I got the ball I wanted to do my stuff. "I am really happy with the team spirit and we can move forwards now and start some new momentum".

"The autoworkers are a tremendous beneficiary", said Trump, adding that the USMCA will help stop automotive jobs from going overseas, and he predicted many such jobs will return to the United States. He said that it "lifts the risk of serious economic uncertainty that lingers throughout a trade renegotiation process - uncertainty that would have only gotten worse and more damaging if we had not reached a new NAFTA".

BDI, Germany's main industry association, said in a statement that the autos rules of origin were "a retrograde step compared with NAFTA".

The signing was done on Pena Nieto's last day in office, a target the countries had pushed for in a bid to have it sealed before his successor, Andres Manuel Lopez Obrador, takes power Saturday. But the Canadian government's official website for the trade deal, updated today, puts Canada first in the acronym: CUSMA.

"We've known each other a long while", Trump said, noting he worked with Macri's father on real estate developments.

As the G20 summit began in Argentina on Friday, the U.S. president told reporters that the deal "changes the trade landscape forever".

However, the agreement does make some changes to the more controversial "Investor-State Dispute Settlement" powers, which critics said had allowed powerful companies and wealthy investors to invalidate local laws and court decisions through unaccountable arbitration. However, ongoing differences over steel and aluminium tariffs the USA has imposed on its northern and southern neighbours encroached on the celebratory moment.

For the record, the document's preamble refers to an "Agreement between the United States of America, the United Mexican States and Canada". The news ensured any meeting with Putin would have put a spotlight on the United States special counsel's investigation into whether the Trump campaign colluded with Moscow during the election.

President Trump has officially signed off on the new USMCA, effectively replacing the defunct NAFTA deal.

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