Trump agrees to renegotiate NAFTA with Canada, Mexico leaders; insists not to withdraw
President Trump and the leaders of Mexico and Canada agreed Wednesday to renegotiate the North American Free Trade Agreement (NAFTA), the White House said Wednesday night.
“it is my privilege to bring NAFTA up to date through renegotiation,” Trump said in a statement. “It is an honor to deal with both [Mexican] President [Enrique] Peña Nieto and [Canadian] Prime Minister [Justin] Trudeau, and I believe that the end result will make all three countries stronger and better.”
The White House added that Trump “agreed not to terminate NAFTA at this time” and that all three leaders “”agreed to proceed swiftly, according to their required internal procedures, to enable the renegotiation” of the trade deal to “the benefit of all three countries.”
Trump repeatedly railed against the two-decade-old trade agreement on the campaign trail, describing it repeatedly as a “disaster.”
Earlier Wednesday, sources told Fox News that the White House had drafted a notification signaling the United States’ intention to withdraw from NAFTA. The document would have given the leaders of Canada and Mexico six months’ notice of the administration’s decision to exit from the agreement.
On Monday, the administration announced it would slap hefty tariffs on softwood lumber being imported from Canada. Trump has also been railing against changes in Canadian milk product pricing that he says are hurting the American dairy industry.