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Trump announces an understanding with Mexico on a trade agreement
US President Donald Trump announced Monday that his country had reached an understanding with Mexico on a new trade deal rather than the North American Free Trade Agreement (NAFTA).
"It's a great day for trade, a big day for our country as well," Trump said, adding that it was not yet clear whether Canada would join the new agreement or whether the United States would negotiate a unilateral deal.
The NAFTA agreement has been in effect since 1994 between the United States, Mexico and Canada. After taking office, Trump announced his intention to reconsider the current agreement or to conclude a new agreement instead. Negotiations began in 2017.
For his part, Marcelo Eberard, appointed foreign minister of the future Mexican government, welcomed the understanding between his country and the United States, adding that Canada's participation in the tripartite negotiations on a trade agreement alternative to NAFTA is necessary.
"We see in the understanding announced today positive progress, and in the coming days we will continue with tripartite negotiations with Canada, whose participation is a very positive one," said Eberard, who will head the newly elected state, Andres Manuel Lopez Obrador, Vital to making the (commercial) agreement possible. "
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