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The Art of Rebranding
The U.S. and Canada reached a deal to replace the North American Free Trade Agreement, signed a quarter-century ago, with a new pact that the Trump administration says is easier to enforce.
In remarks in the Rose Garden formally announcing the agreement, President Trump called it "the most important trade deal we've ever made by far."
Ahead of the midnight deadline set by the White House, Trump approved changes that essentially revamp the 1993 NAFTA deal, bringing Canada on board after Mexico had already agreed in August.
"Through out the campaign I promised to renegotiate NAFTA," Trump said, referring to one of his major campaign themes. "Today," he said, "we have kept that promise."
"My expectation all along was that there would be few major changes and NAFTA would go from being one of the worst deals ever to the one of the best," said Jim O'Sullivan, an economist with High Frequency Economics.
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