Trump says new trade pact to support 'hundreds of thousands' of U.S. jobs
U.S. President Donald Trump on Monday touted the newly reached trade deal with Canada and Mexico that will replace NAFTA as a massive job engine, creating positions across the manufacturing, agriculture, technology and financial services sectors.
"These measures will support many - hundreds of thousands - American jobs," he said at a news conference at the White House. "It means far more American jobs, and these are high-quality jobs."
The three countries came to the final deal, which Trump called the "most modern, up-to-date and balanced trade agreement" in U.S. history, late on Sunday. Trump plans to sign it by the end of November.
Trump said the deal will give U.S. farmers greater access to export wheat, poultry, eggs and dairy, while also turning North America into a "manufacturing powerhouse" and ensuring higher wages for auto workers. He also said that Mexico and Canada have agreed to labor, intellectual property and environmental provisions in the new agreement.
Trump said the NAFTA rewrite would not have been reached without tariffs, adding that, even though possible tariffs have given the United States strong trade leverage, the country may not need to use them.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.