Trump welcomes Canada's entry into trade pact with US, Mexico

US President Donald Trump on Monday praised Canada's entry into a reworked trade deal with the United States and Mexico after the two countries forged a last-gasp agreement on Sunday to salvage the NAFTA.

In a post on Twitter, Trump called the US agreement with its neighbour to the north "wonderful" and "a great deal for all three countries," adding that the new trade alliance would be renamed the United States Mexico Canada Agreement or USMCA.

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The United States and Canada reached a deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, beating a midnight deadline with agreements to substantially boost American access to Canada's dairy market and protect Canada from possible US auto tariffs, sources with direct knowledge of the talks said.