Farmers to receive compensation as part of historic NAFTA revamp
OTTAWA — Canada gave up some access to its dairy, egg and poultry industries but will keep its agricultural supply management system and avoid punishing auto tariffs under the new North American trade deal.
Prime Minister Justin Trudeau hailed the landmark agreement as a win for everyone and U.S. President Donald Trump did a victory lap at the White House as industries across Canada took stock of the new era in continental trade.
“Today we are securing a higher standard of living far into the future for the people of Canada,” Trudeau said during a news conference Monday in Ottawa.
The revamped NAFTA deal — dubbed the United States-Mexico-Canada Agreement, or USMCA — was almost 14 months in the making and has 32 chapters, 11 annexes and 12 side letters. One letter promises Canada will be exempt from any future U.S. tariffs imposed on automobiles and auto parts as a matter of national security.