Trump touts US-Mexico-Canada trade deal as 'historic news'

1 year 9 months 2 days ago Monday, October 01 2018 Oct 1, 2018 Monday, October 01, 2018 1:54:44 PM CDT October 01, 2018 in News
By: Jeremy Diamond, CNN

(CNN) -- President Donald Trump on Monday touted the renegotiated NAFTA deal between the US, Mexico and Canada as "truly historic news for our nation and indeed for the world."

Trump, who has long railed against NAFTA, once again called the original agreement "the worst trade deal perhaps ever made" and said the new the US-Mexico-Canada Agreement -- dubbed the USMCA -- will be a boon for the US economy.

"The factories were leaving, the jobs were leaving, people were being fired," Trump said, describing the old agreement. "We have negotiated this new agreement based on the principle of fairness and reciprocity. To me, it's the most important word in trade."

"This new deal will be the most modern, up-to-date and most balanced trade agreement in the history of our country with the most advanced protections for workers," Trump said during a Rose Garden speech.

The President also touted the deal as a boon for American farmers, improved labor standards and US manufacturing.

Always mindful of the branding, Trump touted the new "USMCA" name.

"It's got a good ring to it," Trump said.

The agreement represents the fulfillment of a signature campaign promise and the brokering of an agreement that just days ago seemed likely to unravel, threatening the decades-old North American free trade framework.

Trump also mocked politicians opposed to tariffs as "babies" during his remarks.

"Without tariffs, we wouldn't be talking about a deal," Trump said in the Rose Garden as he touted a revamped the NAFTA accord.

"Just for those babies out there that talk about tariffs -- that includes Congress, 'Please don't charge tariffs' -- without tariffs, we wouldn't be standing here," he said. "I can tell you, Bob and all of these folks, would not be standing here right now."

A number of Republicans -- including House Speaker Paul Ryan -- have expressed opposition to tariffs.

The President expressed some concern about the fate of his new trade agreement which will need congressional approval.

"I plan to sign the agreement by the end of November. I then will submit it for approval to Congress where in theory there should be no trouble -- but anything you submit to Congress is trouble, no matter what," Trump said.

"It's the single greatest agreement ever signed but they'll say, 'Well, Trump likes it, therefore we're not going to approve it because that'll be good for the Republicans, so therefore we can't approve it,' " he said.

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