The new trade agreement, Trump asserted, would usher in a new dawn for the country's auto industry and transform North America into a manufacturing powerhouse and allow the United States to reclaim the supply chain that went out off-shores. Fortunately, many programs funded by the farm bill, including crop insurance, still have secure funding until the end of this year.
After more than a year of talks, and six weeks of intense discussions, the governments were able to overcome their differences with both sides conceding some ground, but both hailing the agreement as a good deal for their citizens in the region of 500 million residents that conducts about $1 trillion in trade a year.
"The agricultural community is counting on our elected leaders to ensure that a safety net remains in place during these uncertain times".
One of the officials - both of whom spoke on the condition of anonymity because they are not authorized to speak publicly - said the discussions between Canada and the USA were ongoing, but that progress was being made.
"I'm not happy, I'm ecstatic", Marshall said of the deal.
Wildeboer added that the steel and aluminum tariffs imposed by the Trump administration on Canada and other trading partners still need to be dealt with.
"They used to call it NAFTA", said Trump after a deal had been reached with Mexico.
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The flags of Canada, Mexico and the USA are seen on a lectern before a joint news conference on the closing of the seventh round of NAFTA talks in Mexico City on March 5.
Canada originally pulled away from negotiations but reached an agreement leading up to a midnight deadline Sunday.
"What's more important than whether there's going to be a huge new gusher of investment", he adds, "is it prevents an erosion of the manufacturing base in the United States and OH by tearing apart the North American production system".
Canada's ambassador to Washington, David MacNaughton, also said Sunday evening that the two countries had made a lot of progress, but there was no deal yet as there were a couple of tough issues left to resolve.
The new trade agreement includes provisions for 75 percent of auto components to be built in North America - with 40 percent to 45 percent made by laborers making at least $16 an hour.
The trade impasse was overcome after both parties made some concessions, with Canada agreeing to grant United States farmers greater access to its dairy market and limit its automotive exports to the US.
"If they see a demand for their milk, we could see an uptick in cottonseed prices", explained Newby.
"The economic ties between the three countries are a major contributor to each country's financial success, and no state benefits more from the NAFTA relationship than Texas".