"The USMCA is the largest, most significant, modern and balanced trade agreement in history. All of our countries will benefit greatly,” Trump said in a statement.  

Trump signed the agreement during a ceremony at the White House. 

American Iron and Steel Institute president and chief executive Thomas J. Gibson attended the ceremony and said the agreement will no doubt strengthen steel manufacturing in the U.S. 

“The USMCA will help create jobs and foster investment in manufacturing, including strengthening our steel industry supply chains with key customers by incentivizing the use of North American steel in manufactured goods,” he said.  

“In addition, USMCA promotes increased cooperation and information-sharing among the North American government to address circumvention and evasion of trade remedy orders. This will enhance the ability of our three countries to continue to work together to address the surges of dumped and subsidized steel imports that have plagued the North American steel market.”

The Steel Manufacturers Association (SMA) called the USMCA a landmark agreement. 

“The SMA looks forward to working with the administration to successfully implement the USMCA and promote sustainable growth opportunities within North America that support 21st-century steelmaking,” it said.

United States Steel Corporation president and chief executive David Burritt also weighed in on the signing, saying that fair trade is key to building a vibrant and competitive manufacturing sector in North America.

He also urged legislators to continue the bipartisanship that enabled ratification of the agreement. 

“There is nothing I would like better than to see this same spirit of cooperation focused on advancing an infrastructure investment bill that would restore our nation’s pre-eminent capabilities. Imagine how every segment of our workforce and economy would flourish with revitalized infrastructure and the renewed manufacturing capabilities needed to support it,” Burritt said. 

With the U.S. formally having signed on to the agreement, Canada remains the only one left to ratify it – Mexico did so in December. 

Catherine Cobden, president of the Canadian Steel Producers Association, has called on Canadian lawmakers to act quickly. 

“We believe this deal to be a critical step forward for our future and are counting on all parliamentarians to come together and ratify the agreement without delay,” she said. 

“Implementation of the (agreement) is critical to strengthening the competitiveness of Canadian and North American steel industries and ensuring market access in the face of persistent global trade challenges and uncertainty.”