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“We have a very, very good USMCA deal cooking which I think will pass the house,” he told FOX Business’ Lou Dobbs on Thursday.
There are several provisions in the deal, which was announced last year, aims to revamp and modernize the North American Free Trade Agreement (NAFTA). Aside from advancing agriculture interests for American farmers, another major component of the plan requires at least 75 percent of an automobile parts to be manufactured in the U.S., Mexico or Canada in order to qualify for zero tariffs.
President Trump, during an exclusive interview with Maria Bartiromo on Friday, ripped NAFTA and called it the worst trade deal ever made. He also said cars that are produced overseas “pose a national security risk” to the U.S. balance sheet.
“Almost every country has taken advantage of the United States -- and we’re straightening it out,” he said.