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Trump Administration to Renegotiate NAFTA Agreement With Canada and Mexico

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)