By Reuters
May 18, 2017

The Trump administration on Thursday formally launched its effort to renegotiate the North American Free Trade Agreement with Canada and Mexico, CNBC reported, citing a letter sent to Congress.

Mexico’s government welcomed the upcoming renegotiation of the North American Free Trade Agreement (NAFTA).

In a brief statement, Mexico’s economy ministry said NAFTA had been a boon to Canada, the United States and Mexico, and that all three nations deserved a modern pact to regulate trade.

“Mexico expects a constructive negotiation that allows more cooperation, economic integration, and boosts regional competitiveness,” the ministry said in the statement. (Reporting by Dave Graham)

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