President Trump is replacing the North American Free Trade Agreement (NAFTA) with the United States-Mexico-Canada Agreement (USMCA).
Trump Wedensday signed his historic USMCA deal, making good on his promise to deliver fairer and more reciprocal trade for the American people.
USMCA will replace the NAFTA agreement that resulted in the loss of millions of American jobs and devastated communities across our county.
The deal marks a tremendous victory for American workers, farmers, manufacturers, and businesses alike.
USMCA has the potential to create nearly 600,000 jobs and generate up to $235 billion in economic activity.
This deal includes the strongest, most advanced, and most comprehensive labor chapter of any American trade agreement in history.
Workers in all sectors of the economy are expected to benefit from this landmark agreement.
USMCA is the first United States trade agreement to ever include a chapter supporting small and medium sized businesses.
USMCA is a monumental win for American farmers and ranchers, improving access to Canadian and Mexican markets to export their goods.
As a result of President Trump’s efforts to secure a better deal for our farmers, American agricultural exports are expected to increase by $2.2 billion under USMCA.
Under the agreement, Canada has agreed to expand market access for American dairy, egg, and poultry producers.
The agreement is expected to grow annual dairy exports by nearly $315 million.
American wheat growers will have access to a more level playing field.
Thanks to this deal, Canada will finally give fair treatment to American-grown wheat.
USMCA is expected to create up to 76,000 new auto jobs, spur $34 billion in new investment in the auto industry, and add $23 billion in auto parts purchases annually.
USMCA contains new protections for American intellectual property, ensuring strong, effective protection for American innovators and creators.
Included in USMCA is a first-of-its-kind chapter on digital trade, which the decades-old NAFTA was never updated to address.
The digital trade provisions included in this agreement will foster economic growth and innovation for years to come.
USMCA includes first-of-its-kind provisions to prohibit unfair currency practices and reinforce exchange rate stability.
The agreement includes the strongest environmental standards of any trade agreement in our history.
These standards are fully enforceable and will help prevent companies from moving out of the United States—and taking jobs with them—to avoid environmental rules.