President Donald Trump said the U.S. Mexico Canada Agreement is the greatest trade deal in history.
“It’s a great deal for our farmers and our manufactories, everybody,” said Trump.
The president praised the new deal that replaced NAFTA at a rally in Houston, calling it one his administration’s big accomplishments.
“I don’t want our companies moving to other countries, firing all their people, making the product and then putting it in with no tax and selling it back to our people,” Trump said.
“There’s no telling when this deal will be finalized,” Bryan Riley said.
Bryan Riley with the Conservative Heritage Foundation said Canada and Mexico aren’t as enthusiastic as the president, largely because the U.S. continues to impose tariffs on their steel and aluminum.
“Those countries were under the impression and were lead to believe that once they signed a new trade deal, those tariffs would go away,” said Riley.
The next step is for the three countries to sign the deal.
The Trump administration reportedly has been pushing for an elaborate public signing ceremony as soon as possible and before the midterm elections.
“But Canada and Mexico made it pretty clear that until the U.S. removes our tariffs on their imported steel and aluminum, they are not going to go along with that,” Riley said.
And Riley said he doesn’t blame them; he said the tariffs are bad policy.
Once the deal is signed, all three countries’ legislatures must approve it.
Riley said the U.S. Congress will likely wait until next year to vote on it.