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Speaking to reporters in Ottawa, Trudeau says the revamped NAFTA deal - renamed the United States-Mexico-Canada Agreement - is successful in maintaining fairness and balance between Canada and the US, a trading partner 10 times its size. US President Donald Trump imposed taxes on imports from Mexico and Canada, and the two countries retaliated.

He said today: "It is a great deal for all three countries, solves the many deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduce Trade Barriers to the USA and will bring all three Great Nations closer together in competition with the rest of the world".

More than two-thirds of Canadian exports go to the United States, equivalent to 20 percent of its Gross Domestic Product, while Canada is the largest export market for the United States.

The deal does not include any changes to separate USA tariffs on steel and aluminum levied earlier this year on Canada, Mexico, China, the European Union and others.

Likewise, outgoing Mexican President Enrique Pena Nieto said via Twitter that the deal negotiated over the past 13 months "achieves what we proposed at the beginning: a win-win-win agreement". As Robertson said MacNaughton told him last week, "Whether we get a deal or not, the campaign continues - it's a permanent campaign".

It will force Canada and Mexico to respect the excessively long patents the USA gives to its pharmaceutical companies.

For the general manufacturing sector, the sentiment is one of relief, said Dennis Darby, president and CEO of Canadian Manufacturers & Exporters.

The B.C. Lumber Trade Council said retaining the dispute mechanism was "absolutely critical".

US and Canadian negotiators reached agreement on the terms of the new pact late on September 30, hours before a self-imposed deadline. But the agreement will now push Canada's current copyright terms, which stood at 50 years past the author's life, to 70 years so that it can fall in line with US protections.

The new deal gives USA dairy producers more access to Canada's market.

Benoit Fontaine, the chair of Chicken Farmers of Canada, likewise expressed reassurance that "a year of uncertainty over the future of the agricultural landscape in Canada is over". Agricultural products will continue to have zero tariffs, as they did with NAFTA, and USA producers are set to have increased access to export animal products including dairy, poultry and eggs to Canada, while Canada has improved access to United States markets for dairy, peanuts and peanut products.

Donald Trump holds a news conference on the sidelines of the 73rd session of the United Nations General Assembly in New York
Image Donald Trump has criticised the impact of NAFTA on American workers

"It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the almost half-billion people who call North America home", it said.

Canada's government had faced strong opposition to elements of the revised pact from the country's dairy farmers.

President Donald Trump hailed his revamped North American trade agreement with Canada and Mexico as a breakthrough for USA workers on Monday, vowing to sign it by late November.

On Monday Trump called dairy a "deal breaker" for him in the negotiations.

"The concessions were all from Canada and Mexico", MacKay said. It shows how bad the deal is for Canadians farmers.

He insisted there was "no political necessity" to keep Canada in any new deal, tweeting that Canada had "taken advantage of our Country for many years!" Instead, he said, Canada can only brag about what it didn't have to concede.

"The deal is not a disaster", Bothwell said.

"We are not going to allow our steel industry to disappear", Trump said, adding that Sunday's deal would not have happened without the tariffs. It also comes ahead of the U.S. midterm elections next month, which could be challenging for the president.

Trump acknowledged relations between himself and Trudeau have been "testy" but added that was simply because of the negotiations.

Canada retaliated with tariffs targeting approximately $16.6 billion in goods.

US, Canadian and Mexican stocks jumped early on Monday before paring gains later. "It is imperative that the United States remains an integral player in driving the global trade agenda".

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