Trump calls new US, Mexico, Canada NAFTA deal a 'historic transaction'

President Trump on Monday called the deal to revamp the North American Free Trade Agreement a “historic transaction.”

“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,” Trump tweeted.

“It is a great deal for all three countries, solves the many 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!” Trump added.

Politico notes the new deal is “a major step toward completing one of Trump’s signature campaign promises and gives the president a concrete policy win to tout on the campaign trail this fall.”

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Canada's Prime Minister Justin Trudeau (R) and U.S. President Donald Trump shake hands during the G7 Summit in the Charlevoix town of La Malbaie, Quebec, Canada, June 8, 2018. REUTERS/Christinne Muschi
U.S. President Donald Trump meets with Canada?s Prime Minister Justin Trudeau in a bilateral meeting at the G7 Summit in in Charlevoix, Quebec, Canada, June 8, 2018. REUTERS/Leah Millis
Canada's Prime Minister Justin Trudeau and G7 leaders Britain's Prime Minister Theresa May, France's President Emmanuel Macron, Germany's Chancellor Angela Merkel, and U.S. President Donald Trump discuss the joint communique following a breakfast meeting on the second day of the G7 meeting in Charlevoix city of La Malbaie, Quebec, Canada, June 9, 2018. Adam Scotti/Prime Minister's Office/Handout via REUTERS. ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Germany's Chancellor Angela Merkel, U.S. President Donald Trump, Canada's Prime Minister Justin Trudeau and France's President Emmanuel Macron pose with other leaders for a family photo at the G7 Summit in the Charlevoix city of La Malbaie, Quebec, Canada, June 8, 2018. REUTERS/Yves Herman
Canada's Prime Minister Justin Trudeau (R) and U.S. President Donald Trump participate in the working session at the G7 Summit in the Charlevoix town of La Malbaie, Quebec, Canada, June 8, 2018. REUTERS/Christinne Muschi
U.S. President Donald Trump welcomes Canada's Prime Minister Justin Trudeau on the South Lawn before their meeting about the NAFTA trade agreement at the White House in Washington, U.S. October 11, 2017. REUTERS/Jonathan Ernst
U.S. President Donald Trump and first lady Melania Trump welcome Canada's Prime Minister Justin Trudeau and his wife Sophie Gregoire Trudeau on the South Lawn before the leaders' meeting about the NAFTA trade agreement at the White House in Washington, U.S. October 11, 2017. REUTERS/Jonathan Ernst
Canada's Prime Minister Justin Trudeau shakes hands with U.S. President Donald Trump as they meet about the NAFTA trade agreement in the Oval Office at the White House in Washington, U.S. October 11, 2017. REUTERS/Jonathan Ernst
(L-R) US President Donald Trump, German Chancellor Angela Merkel and Canada's Prime Minister Justin Trudeau attend the panel discussion "Launch Event Women's Entrepreneur Finance Initiative" on the second day of the G20 Summit in Hamburg, Germany, July 8, 2017. REUTERS/Patrik STOLLARZ/Pool
US President Donald Trump (C) talks with Canada's Prime Minister Justin Trudeau (L) and his wife of Canada's Prime Minister Sophie Gregoire (Hidden behind) as US First Lady Melania Trump (front L) and French President's wife Brigitte Macron (front R) talk with others after a family photo of the participants of the G20 summit and their spouses prior a concert at the Elbphilharmonie in Hamburg, northern Germany, on July 7, 2017. REUTERS/LUDOVIC MARIN/Pool
U.S. President Donald Trump, Germany's Chancellor Angela Merkel and Canadian Prime Minister Justin Trudeau attend the G7 summit in Taormina, Sicily, Italy, May 26, 2017. REUTERS/Tony Gentile TPX IMAGES OF THE DAY
Canadian Prime Minister Justin Trudeau (L) and U.S. President Donald Trump participate in a joint news conference at the White House in Washington, U.S., February 13, 2017. REUTERS/Carlos Barria
Canadian Prime Minister Justin Trudeau (R) is greeted by U.S. President Donald Trump prior to holdiing talks at the White House in Washington, U.S., February 13, 2017. REUTERS/Carlos Barria (
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