US, Mexico strike trade deal that could pave the way for an overhaul of NAFTA



Michael Collins | USA TODAY

President Donald Trump said Monday the United States and Mexico have reached a new trade deal, paving the way for the possible revision of the North American Free Trade Agreement.

In an Oval Office announcement, Trump said the new agreement would be called the United States-Mexico trade agreement and would replace NAFTA, which he said had “bad connotations” for the United States.

“It’s a big day for trade,” he said. “It’s a big day for our country.”

Trump said that he intends to terminate NAFTA and that the United States would immediately begin negotiations with Canada, the third party in the trilateral trade pact that he has called the “worst deal ever.”

“If they would like to negotiate fairly, we will do that,” Trump said. He said it’s possible that a separate deal could be reached with Canada…