The trade agreement between the U.S., Mexico, and Canada is getting cheers and jeers.
"We did it!" President Trump exclaimed during a speech Sunday in Austin, Texas. "They were all saying, 'You'll never get NAFTA changed,' [that] we were stuck with one of the worst trade deals in history."
James Roberts, research fellow for economic freedom and growth at The Heritage Foundation, a center-right think tank, says there is quite a bit to like in the trade agreement with Mexico and Canada.
He tells OneNewsNow the United States-Mexico-Canada Agreement (USMCA) will essentially keep in effect the old North American Free Trade Agreement (NAFTA) that has created hundreds of thousands of good jobs for Americans, "benefiting their families and American businesses and farmers while reducing prices on goods and increasing exports to Canada and Mexico."
"The USMCA also updates the 25-year-old NAFTA agreement and brings it up to the age of the digital era with the Internet, intellectual property rights, and some other improvements that we think will be good for Americans," Roberts continues.
But not everyone is fond of the USMCA. Liberal news outlet Vox.com, for instance, reports that environmental groups do not believe it goes far enough in protecting the climate. Some unions are also opposed.
Terms of the USMCA are set to expire after 16 years. However, participating nations will be able to review the agreement every six years, at which point they can decide to extend the agreement.