Reports: Trump, House Democrats Close to Deal on Revisions to Trade Deal
|12/10/2019||Posted by BusinessMediaguide.Com under General World News||
News reports say House Democrats and the White House are close to agreeing on changes to a trade deal that the United States, Canada and Mexico signed last year but have not ratified.
The United States-Mexico-Canada-Agreement, known as the USMCA, would replace the existing North American Free Trade Agreement, or NAFTA, which President Donald Trump has derided as the “worst trade deal” ever signed by the U.S. He made renegotiating NAFTA a campaign promise during the 2016 presidential race.
NAFTA took effect in the 1990s during U.S. President Bill Clinton’s administration.