On Sunday night Canadian and US negotiators reached an agreement on the reform of the North American Free Trade Agreement (NAFTA).
The new treaty will be renamed the United States, Mexico & Canada Agreement (AEUMC), according to joint statement.
The statement stressed that the new agreement between the United States, Canada and Mexico will generate “solid economic growth. ”
To close the agreement, Canada gave in to the quota system for milk, which will open the market to US producers, a Canadian official said on Sunday.
Ottawa, for its part, managed to preserve the NAFTA system of resolving conflicts between the partners that the United States wanted to modify.
In addition, the new agreement will include an environmental chapter and, as part of the agreement, Canada will be able to preserve the protection of the cultural sector.
“The AEUMC will provide our workers, farmers, ranchers and companies with a high-quality trade agreement that will result in freer markets, fairer trade, ” said Ottawa and Washington in their joint statement, issued 90 minutes before the expiration of the date. limit set by the United States.
The Canadian Prime Minister, Justin Trudeau, came out quickly from the meeting with his ministers and without answering the questions of the press he limited himself to saying.
It’s a Good Day for Canada.
Justin Trudeau, Canada Prime Minister.
The representative of the Mexican President-elect, Andres Manuel Lopez Obrador, Jesus Seade, celebrated the news.
“We celebrate the trilateral agreement, closing the door to the commercial fragmentation of the region, NAFTA 2 will give certainty and stability to Mexico’s trade with its partners in North America,” Seade wrote on Twitter, who represented Lopez Obrador during the negotiations.
This new version of NAFTA, a treaty in force since 1994 between the United States, Canada and Mexico, has been renegotiated since 2017 at the request of US President Donald Trump, who called it a “disaster” for his country.
For Canada, the pressure was great since the United States had already closed an agreement with Mexico.
The negotiations were developed remotely, unlike other cycles of dialogues in which Canada’s Foreign Minister, Chrystia Freeland, had moved to Washington.
The excitement grew when Trudeau, called on Sunday at 22H00 local (02h00 GMT Monday) an emergency meeting of his cabinet, two hours before the deadline set by Washington to close the renegotiation.
The announcement came after a full weekend of work by video conference, Negotiators to reach a last-minute agreement to modernize the trade agreement.