Putting an end to all uncertainties, the United States, Canada and Mexico have reached a new trade deal to replace the North American Free Trade Agreement.
No details about the deal has been disclosed fully yet. But, there are reports that the deal will have serious effect on the US’ dairy industry and Canada’s automobile industry.
Mexico is the first country which responded to the suggestion made by the US to replace the NAFTA with a better one.
At the initial stage, Canada was not happy with the proposal. The North American country till the last minute maintained their stiffness.
Till the last minute, there were assumptions that Canada might not agree to strike a deal with the US and Mexico.
The new agreement however is likely to give a huge impetuous to the relation between the three powerful North American countries.
During the presidential campaign itself, Donald Trump, the present US president, asserted that he would scrap the NAFTA (the trade deal, as per his opinion, contributed little to the country and many to its partners at its cost).
The new deal is perceived as a victory of the Trump’s regime, which has been working for an alternative to NAFTA since its induction.
Vignesh. S. G
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