A NAFTA deal brings a return to status quo
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On the campaign trail, Donald Trump harshly criticized free trade deals, threatening to withdraw the U.S. from the Trans-Pacific Partnership as well as the North American Free Trade Agreement, which he called “the worst trade deal.”
He withdrew the U.S. from the TPP within days of taking office, and over the weekend announced a new deal, called the U.S.-Mexico-Canada Agreement, or USMCA, to replace NAFTA.
“I promised to renegotiate NAFTA,” Trump said in the White House Rose Garden Monday. “Today, I have kept that promise.”
Despite Trump’s rhetoric, the new agreement keeps the framework of NAFTA largely intact, maintaining the status quo of free trade between the three countries. Some of the areas that are changed actually incorporate elements on North American trade from the TPP, which was negotiated under President Barack Obama.
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