Kudlow: Trump's US-Mexico-Canada Trade Agreement 'Sends a Message to China'

Trump and Trudeau agree on a revised NAFTA deal

If NAFTA is indeed replaced by the new agreement, which unfortunately is completely unpronounceable as an acronym, it is unlikely that there will be large and dramatic changes to North American trade.

Morneau said in his earlier speech that Canada is looking to create tourism, education and financial-service opportunities with countries such as China as it works to expand its oil and gas industry to foreign markets with the building of the Trans Mountain pipeline.

The 10 per cent tariffs imposed by the USA on $200 billion of imports from China is unlikely to be the end of the trade war, and a threatened increase in tariffs to 25 per cent is likely, it said.

"The president has basically delivered on another promise", Kudlow said on "America's Newsroom" Tuesday, calling the deal a win for the U.S., Mexico and Canada.

United States farmers will have access to about 3.5 percent of Canada's dairy market, Reuters reported, citing sources.

"We're very unhappy with the negotiations and the negotiating style of Canada", Trump said.

"It's a good day for Canada", Canadian Prime Minister Justin Trudeau told reporters after a late-night cabinet meeting to discuss the deal.

Mexican President-elect Andres Manuel Lopez Obrador embraced the new deal. However, the deal is expected to contain key provisions on Canada's dairy industry and vehicle exports to the US.

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Trump said he'd like to see it signed by the end of November.

Meanwhile, the president said he would continue to employ tariffs on other countries only in instances where the governments are "absolutely not willing to do what's fair and reciprocal". Under NAFTA, Canada was able to limit how much milk and dairy products could be brought in from the United States.

"We've been looking for some good news for quite some time in the trade department for agriculture". It was unclear, however, whether Trump had authority from Congress to pursue a revamped NAFTA with only Mexico, and some lawmakers said they wouldn't go along with a deal that left out Canada.

The main goal of the agreement for the United States is to have more auto and truck parts made in North America.

"We will be manufacturing many more cars and our companies won't be leaving the United States, firing their workers and building their cars elsewhere".

According to the WCIT, exports from Washington into Mexico have increased 700 percent and exports to Canada grew to 200 percent since NAFTA was implemented in 1994.

Will said IN will also have advantages IN industry because the deal bans other countries from giving money to industries so they can compete against America.

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