The final text of the deal also clarifies how vehicle exports from Canada and Mexico will be protected if President Donald Trump follows through on threats to impose 25-per-cent tariffs on autos brought into the United States.
While Trump hailed the revised trade pact, Trudeau was more measured, saying there was still work to be done and calling on Trump - using his first name - to remove steel and aluminum tariffs the USA imposed on Canada and Mexico.
US President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto signed the United States-Mexico-Canada Agreement (USMCA), the revised version of the North American Free Trade Agreement (NAFTA), on the sidelines of the G20 Summit in Buenos Aires on November 30.
"With the signing of this agreement, President Trump has delivered on his promise to renegotiate NAFTA and protect American farmers, ranchers, businesses, and workers", it said in a statement. The deal will also need approval of the House, which transfers to Democratic control in January.
Democrats have signaled they won't support the deal without additional protections for workers, though it calls for some more safeguards than the agreement it would replace.
Trump has threatened to use a national security justification to impose steep tariffs on the hundreds of billions of dollars in autos the US imports annually.
It was not clear until just a day earlier that the ceremony would go through amid ongoing Canadian protests over US-imposed steel and aluminum tariffs.
"There is much more work to do in lowering trade barriers and in fostering growth that benefits everyone, but reaching a new free trade agreement with the United States and Mexico is a major step for our economy".
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USMCA will govern more than $1tn worth of trade between the countries.
"One, they don't want to be seen as backing down to Donald Trump, so it's a face-saving thing", Moore said.
In Mexico, the deal was negotiated under Enrique Peña Nieto, but incoming President-Elect Andrés Manuel López Obrador might decide not to honour it.
Today marks an important deadline for the trade pact. The president falsely claimed the new deal was "the largest trade deal ever made" (the Trans-Pacific Partnership, from which he withdrew the United States, was larger), and asserted that it will lead to "high wages and higher wages" in the auto industry and bring back jobs that have been moved overseas. "Instead, we have a deal that locks in numerous old rules that have driven farmers out of agriculture for more than two decades". The United States is naturally putting America first with USMCA. The news ensured any meeting with Putin would have put a spotlight on the USA special counsel's investigation into whether the Trump campaign colluded with Moscow during the election. "We've taken a lot of barbs, and a little abuse, and we got there and it's great for all of our countries", he said.
Whatever it is called, Trump said he expects the deal to soon be ratified. The U.S. continues to push for a quota in exchange for lifting the tariffs on Canada and Mexico, which have applied their own retaliatory levies.
For the record, the document's preamble refers to an "Agreement between the United States of America, the United Mexican States and Canada".
That subject is a hot topic, especially as Trump prepares to meet face-to-face with Chinese President Xi Jinping.