Trump agrees to renegotiate NAFTA with Mexico, Canada

New U.S. Agriculture Secretary Sonny Perdue meets the media at a USDA office in Kansas City on Thursday his third day on the job

Trump agreed "not to terminate NAFTA at this time and the leaders agreed to proceed swiftly ... to enable the renegotiation of the NAFTA deal to the benefit of all three countries", the White House said. "I believe that the end result will make all three countries stronger and better".

Trade expert Laura Dawson explains the basic challenge for the US president: He needs other parties to be anxious. He also claimed Trudeau and Peña Nieto requested that he avoid terminating the deal, and instead renegotiate it.

"We have been on the wrong side of the NAFTA deal with Canada and with Mexico for many, many years, many decades - we can't allow it to happen", Trump told Saturday's rally.

Mr Trudeau, who is due to meet with Taoiseach Enda Kenny next week in Montreal, confirmed that Mr Trump had been considering cancelling the deal. "Unilateral threats of withdrawal or demands for renegotiations risk triggering yet more protectionist moves across the globe".

On Thursday morning, reports began to circulate that President Donald Trump was leaning toward voiding the North American Free Trade Agreement.

Still, about 14 million US jobs depend on trade with Mexico and Canada, according to the US Chamber of Commerce.

Salmonsen: I think the ag community and people within the administration make that point strongly.

The Conservative MP, a vice-chairman of the Canada-United States Inter-Parliamentary Group, said the many years he and other Canadian politicians have spent building relationships with members of Congress contributed to Trump's reversal on scrapping NAFTA.

News of the possible US pullout from NAFTA rattled financial markets on Wednesday.

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"We had a good conversation last night". News of the potential presidential action drove the Mexican and Canadian currencies lower.

"We're happy to sit down and talk about how it can be improved now for our citizens and improved economic growth for our countries and we will continue to amplify the impact and strength of the North American economy". The average United States tariff is only 3.5% for exports coming from countries that don't have a trade deal with the US.

"Obviously, the issue of dairy came up", he said.

By Thursday afternoon, Trump had changed his mind - the U.S. would stay in NAFTA. "They like Trump, but I like them, and I'm going to help them". "Then I get a call, and they call me, I get a call from Justin Trudeau and he said, 'We'd like to see if we can work something out, ' and I said that's fine'".

Trudeau refused to rule out retaliatory measures in response to the US moves, but he said both he and Trump prefer to keep relations "positive and co-operative".

Freeland said she noticed how Trudeau and Trump "really got along" at their first U.S.

"Meanwhile, Sonny Perdue-the agriculture secretary who took office two days earlier-and Commerce Secretary Wilbur Ross met with Mr. Trump and showed him a map indicating the states where jobs would be lost if the pact collapsed, according to a person familiar with the matter", the Journal reported, noting that numerous states on the map supported Trump in the 2016 presidential election. Ross said Trump administration officials concluded America's northern neighbor, with its lumber tactics, "violated legitimate practice".

The monthly global auto report says restrictions could harm the American auto industry, which is a major supplier of auto parts to Canada and, in particular, Mexico.

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