Nafta to be renegotiated

WASHINGTON: The US, Mexico and Canada have agreed to renegotiate the North American Free Trade Agreement (Nafta), the White House said late Wednesday, amid reports that Washington was preparing to withdraw.

During telephone conversations with Mexico’s President Enrique Pena Nieto and Canada’s Prime Minister Justin Trudeau, US President Donald Trump had “agreed not to terminate Nafta at this time,” the White House said.

Instead, “the leaders agreed to proceed swiftly ... to enable the renegotiation of Nafta to the benefit of all three countries”.

“It is my privilege to bring Nafta up to date through renegotiation,” Trump said.

US media had earlier reported that Trump was likely to sign an executive order to begin the process of withdrawing the US from the 23year-old trade agreement in a bid to put pressure on Mexico and Canada. – dpa