New deal that replaces NAFTA has been officially signed

Prime Minister Justin Trudeau says the revamped NAFTA signed today in Buenos Aires provides stability for Canada's economy.

Trudeau joined U-S President Donald Trump and outgoing Mexican President Enrique Pena Nieto at a hotel to formally sign the United States-Mexico-Canada Agreement.

Trudeau told a news conference that free and fair trade leads to better jobs for middle-class Canadians.

He says the new agreement lifts the risk of economic uncertainty that lingers throughout the trade renegotiation process.

Trump says the new deal is a model agreement that will stop auto jobs from going overseas.

He also says the agreement protects intellectual property rights and provides robust protections for digital trade and financial services.

The signing of the trade pact is largely ceremonial, because it still needs to be ratified by all three countries before it can formally take effect.