After days of speculation, United States President Donald Trump announced a new trade agreement with Mexico on Monday. He said, “They used to call it NAFTA. We’re going to call it the United States-Mexico trade agreement. We’ll get rid of the name NAFTA,” Trump told reporters. As per Trump, the name had a “bad connotation”.

When asked if Canada can be part of it, Trump said “We will see”, suggesting that if Canada is prepared to negotiate fairly, it should be simple. He said the United States would put automotive tariffs on Canadian imports if talks don’t succeed.

As per the United States President, Trade talks with Canada are expected to begin immediately. “We’re starting negotiations with Canada pretty much immediately,” Trump said. He added the Canadian economy is “a smaller segment, Mexico is a very large trading partner.”

Outgoing Mexican President Enrique Pena Nieto also commented on the discussions, saying he hopes Canada will come back to the table.

The United States, Mexico and Canada do more than 1 trillion dollars in trade between them every year.

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