India wants to start trade talks with US ‘immediately’, says Trump
United States-Mexico-Canada Agreement to replace NAFTA
Washington: US President Donald Trump on Monday said India wants to start trade talks with the United States “immediately” as he held a news conference on the trade deal struck between the United States, Mexico and Canada.
Known as the United States-Mexico-Canada Agreement (USMCA), the deal agreed ahead of a midnight deadline Sunday will replace the North American Free Trade Agreement (NAFTA), which Trump had called a “disaster.”
Sunday’s announcement of NAFTA capped six weeks of intense talks.
In the end, Canada and the US overcame their differences after both sides conceded some ground, hailing an agreement that covers a region of 500 million residents and conducts about $1 trillion in trade a year.
Under Sunday’s deal, the trade pact will remain in force for 16 years but will be reviewed every six years. More than two-thirds of Canadian exports go to the United States, equivalent to 20% of its gross domestic product, while Canada is the largest export market for the US.
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