Washington -A new US trade pact with Canada and Mexico is "a great deal" for all three countries, President Donald Trump said on Monday, hailing the replacement of the old North American Free Trade Agreement deal, which he had long railed against and threatened to cancel. "Late last night, our deadline, we reached a wonderful new Trade Deal with Canada, to be added into the deal already reached with Mexico," Trump said on Twitter. "It is a great deal for all three countries." The pact, the United States-Mexico-Canada Agreement (USMCA) "solves the many deficiencies and mistakes" in the 24-year-old Nafta deal it replaces, Trump said after accomplishing one of his signature policy initiatives.

The agreement "greatly opens markets to our Farmers and Manufacturers" while reducing trade barriers "and will bring all three Great Nations closer together in competition with the rest of the world. The USMCA is a historic transaction!" the president said. The rewritten deal "will result i...

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