President Donald Trump is leading a press conference today to discuss a new North Atlantic free trade agreement that isn’t called NAFTA. Last night, Canada and the United States reached an agreement, alongside Mexico, on a new and modern trade agreement, called the United States-Mexico-Canada Agreement (USMCA.)

USMCA is an updated — and renamed — version of the Clinton-era trade agreement previously known as NAFTA, which President Trump reportedly renamed because he did not care for “NAFTA” as a name for a trade agreement.

This morning, Trump tweeted about the “wonderful new” trade deal:

Late last night, our deadline, we reached a wonderful new Trade Deal with Canada, to be added into the deal already reached with Mexico. The new name will be The United States Mexico Canada Agreement, or USMCA. It is a great deal for all three countries, solves the many……

— Donald J. Trump (@realDonaldTrump) October 1, 2018

….deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduces Trade Barriers to the U.S. and will bring all three Great Nations together in competition with the rest of the world. The USMCA is a historic transaction!

— Donald J. Trump (@realDonaldTrump) October 1, 2018

 

Watch the press conference above, courtesy of YouTube.

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