(Press Release, December 31, 2019)
FIGHTING FOR FAIRER TRADE: President Trump is negotiating better trade deals for the American people after years of our country being taken advantage of.
President Trump negotiated the U.S.-Mexico-Canada agreement (USMCA) to replace the outdated North American Free Trade Agreement (NAFTA).
- USMCA includes tremendous wins for American workers, farmers, and manufacturers, generating over $68 billion in economic activity and creating 176,000 new jobs.
President Trump negotiated two tremendous deals with Japan to boost America’s agricultural and digital trade with the world’s third largest economy.
- Thanks to President Trump’s efforts, Japan will open its market to approximately $7 billion in American agricultural exports.
- The President’s negotiations will boost the already approximately $40 billion worth of digital trade between our two countries.
President Trump fulfilled his promise to renegotiate the United States-Korea Free Trade Agreement, providing a boost to American auto exports.
- These efforts doubled the number of American autos that can be exported to South Korea using United States safety standards.
President Trump reached a historic phase one trade agreement with China that will begin rebalancing our two countries’ trade relationship.
As a result of President Trump’s leadership, China has agreed to structural reforms in areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.
China will be making substantial purchases of American agricultural products, marking a monumental win for American farmers.
President Trump fulfilled his promise to withdraw from the disastrous Trans-Pacific Partnership (TPP).
President Trump achieved a mutual agreement with the European Union to work together towards zero tariffs, non-tariff barriers, and subsidies on certain goods.
President Trump has worked to prepare for post-Brexit trade and made Congress aware of his intent to negotiate a free trade agreement with the United Kingdom (UK).
President Trump imposed tariffs on foreign steel and aluminum to protect our vital industries and support our national security.
President Trump imposed tariffs to protect American-made washing machines and solar products that were hurt by import surges.
The United States scored an historic victory by overhauling the Universal Postal Union (UPU), whose outdated policies were undermining American interests and workers.
President Trump has expanded markets for American farmers to export their goods worldwide, for example:
- The European Union has opened up to more American beef and increased imports of American soybeans.
- China lifted its ban on American poultry and opened up to American beef.
- South Korea lifted its ban on American poultry and eggs and agreed to provide market access for the greatest, guaranteed volume of American rice.
The Trump Administration has authorized a total of $28 billion in aid for farmers who have been subjected to unfair trade practices.