US Donald Trump, Canadian Prime Minister Justin Trudeau and outgoing Mexican President Enrique Pena Nieto have signed an updated free trade agreement on the sidelines of the G20 summit in Argentina.
Trump says the deal, which replaces the North American Free Trade Agreement and which he dubs USMCA, is a “model agreement that changes the trade landscape forever”, as he pledged it will benefit working people.
He said on Friday that he expected the deal to be ratified by lawmakers.
Trudeau said he believed the new “modernised” deal will help the middle class, and would remove uncertainties on trade.
He noted the agreement comes just as General Motors announced closures of plants in the US and Canada, and chided Trump on the sustained US tariffs on Canadian steel.
The deal is being signed on the Mexican president’s last real day in office.
Pena Nieto was heavily praised by Trump on the “incredible milestone”, while the outgoing Mexican president spoke of a “new chapter in our shared history”.