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The United States and Canada forged a last-gasp deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, rescuing a three-country, $1.2 trillion open-trade zone that had been about to collapse after nearly a quarter century.

In a joint statement, the two nations said the new United States-Mexico-Canada Agreement (USMCA) would “result in freer markets, fairer trade and robust economic growth in our region”.

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