US and Mexico announce a new trade deal

The U.S. and Mexico struck a trade deal on Monday that paved the way to replace NAFTA, the current agreement between the two nations and Canada. Mexican officials promised the Latin American country would start buying as farm product as possible from the USA.

Nextbigfuture notes that the USA was always the 800-pound gorilla in the NAFTA (Canada-Mexico-USA) trade deal. The US could always have forced more lopsided terms. Other administrations had chosen towards long-term relations.

Canada has remained on the sidelines of trade talks recently while the U.S. aimed at first striking a deal with Mexico.

“Once the bilateral issues get resolved, Canada will be joining the talks to work on both bilateral issues and our trilateral issues,” Chrystia Freeland, Canada’s foreign minister, said Friday. “And will be happy to do that, once the bilateral US-Mexico issues have been resolved.”

There was some hope that a new NAFTA could be solidified before Mexico’s government turnover on Dec. 1.

Subscribe on Google News