Canada signs on to updated text of new NAFTA deal

The agreement on the updated deal was reached between Canada, the U.S, and Mexico, and comes after U.S. Democrats secured adjustments to the deal that was first struck over a year ago. This paves the way for the new United States-Canada-Mexico Agreement to finally be ratified.

“Canada has worked hard to defend the interests and values of Canadians, and our three countries have worked very hard together to modernize NAFTA and to maintain key provisions that provide stability, predictability, and rules-based trade for North American consumers and businesses. And, we have accomplished it together, at a moment when around the world it is increasingly difficult to get trade deals done,” Freeland said.

This means that Mexico, which was the only country of the three to have already ratified the deal, will need to revisit that process. In the U.S. and Canada, the path now appears clear to move forward with passing the agreement through their respective legislative bodies, something they’d planned to do in relative tandem.

“We like all the changes. Literally all of them,” said one Canadian source speaking on the condition of anonymity. “All our teams did this, and it’s something that’s going to make North America richer, it’s going to make America richer, it’s going to make Canada richer, and it’s going to make Mexico richer,” Lighthizer said during the ceremony.

“You never know where things are going to end in Washington… But I was pretty confident we’d get this done,” MacNaughton said. In order for the deal to come into effect all three countries need to ratify it. Pelosi has indicated they’d like to move on passing the deal before the scheduled Dec. 20 end of their session of Congress, even though they introduced articles of impeachment against Trump today.

Trudeau spoke with Mexican President Andrés Manuel López Obrador by phone on Tuesday, and according to a readout from Trudeau’s office, the two “welcomed the conclusion of the final stage of negotiations,” and agreed to stay in touch as the agreement moves through their respective legislative processes.

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