Donald Trump announces trade pact with Mexico

TIL Desk/World/Washington/ US President Donald Trump has said that US and Mexican negotiators reached an agreement on revising the 1994 North American Free Trade Agreement. The new pact will not be known as NAFTA, because that name “has a bad connotation,” Trump told reporters in the Oval Office.

The US-Mexico Trade Agreement is “a really good deal for both countries,” Trump said before telephoning Mexican President Enrique Peña in the presence of the media. Trump said he planned to contact Canada about signing on to the new document, while making it clear that Washington’s pact with Mexico will go forward regardless.

“I’ll be terminating the existing deal and going into this deal,” US President as saying in the Oval Office, calling it a “big day for trade”. The President called it “one of the largest trade deals ever made”, adding that “they used to call it NAFTA, we are going to call it the US-Mexico Trade Agreement, and we will get rid of the name NAFTA. It has a bad connotation because the US was hurt very badly by NAFTA”.