President Donald Trump distorted some facts about trade in a press conference announcing an agreement to replace the North American Free Trade Agreement with the United States, Mexico, Canada Agreement, or USMCA.
Locations: International
Trump Wrong on Mexico’s VAT
President Donald Trump wrongly said that “nobody from this country knew” about Mexico’s value-added tax until after NAFTA was signed. A deputy U.S. trade representative at the time NAFTA was put in place said: “US policymakers, embassy officials and tax authorities were fully aware of Mexico’s VAT system.”