Canada, US, Mexico formally sign new trade deal USMCA

The USMCA is also known as the renewed North American Free Trade Agreement (NAFTA).

Commenting on the deal, Trudeau said: "This deal provides the long term stability we need to keep our economy strong and growing, and to protect Canadian jobs..."

Calling NAFTA as "terrible", Trump tweeted to say, "Just signed one of the most important, and largest, Trade Deals in U.S. and World History. The United States, Mexico and Canada worked so well together in crafting this great document. The terrible NAFTA will soon be gone. The USMCA will be fantastic for all!"

The US President said in a follow up tweet, "Great reviews on the USMCA - sooo much better than NAFTA!"

After prolonged discussions and negotiations, the three countries reached at the United States-Mexico-Canada Agreement (USMCA), the new trade deal, on Oct 1.

Nieto tweeted to say that the "dialogue and negotiation" will "consolidate the economic integration" of north America.

After arriving at the deal in October, Freeland and US Trade Representative Robert Lighthizer had stated, "......the United States-Mexico-Canada Agreement (USMCA). USMCA will give our workers, farmers, ranchers, and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region.

"It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home.

"We look forward to further deepening our close economic ties when this new agreement enters into force.

“We would like to thank Mexican Economy Secretary Ildefonso Guajardo for his close collaboration over the past 13 months.”