A new trade deal between Canada and North America
As per the reports Canada has recently signed the re-established North American Free Trade Agreement in the city of Mexico, allowing the way for the argumentative pact’s extremely awaited authorization. The deputy prime minister of Canada, Chrystia Freeland signed the trade deal, which is called the Canada-United States-Mexico Agreement (CUSMA), along with the trade representative of the United States of America, Robert Lighthizer as well as the undersecretary of Mexico for North America Jesus Seade.
The deal was approved after the American house speaker Nancy Pelosi declared that her authority has reached a deal with the administration of United States President Donald Trump to support modifications to the language of the trilateral trade agreement. While speaking at the agreement signing function, Freeland stated that the deal was gathered after a somehow longer and exhaustive negotiation procedure.
The prime minister of Canada, Justin Trudeau had a brief discussion with American president Donald Trump through phone regarding the momentum towards approval of the new deal. Earlier this week, Mr. Trudeau spoke with the president of Mexico Andres Manuel Lopez Obrador via phone about the new agreement.
The Canada-United States-Mexico Agreement (CUSMA), will now move to the nations’ assembly for the final round of approval. The fresh agreement is meant to modify the North American Free Trade Agreement which is in place since 1994. House representatives and the US labor leaders offered their support to the Canada-United States-Mexico Agreement (CUSMA) after promoting for advanced conditions for workers. Nancy Pelosi said during the press conference that the improved agreement was extremely better than what was originally planned by the administration.