The news came from the Oval Office on Monday where President Trump stated that he has plans to terminate the North American Free Trade Agreement, NAFTA, as they are looking forward to a new trade plan with Mexico. According to him, it is one of the most significant trade deals to be ever made in the history of US.

Sitting at the Oval Office, he stated that he will be eliminating the existing contract as they step forward towards this deal, labelling the particular Monday as a big day for trade.

One of the significant takeaways from his statements was when he said ‘we will see’ if Canada goes along with the trade pact which leaves countless possibilities and many rumors behind.Trump got the Mexican President Enrique Pena Nieto on the speaker phone as he was sitting at the Resolute Desk in front of press. The Mexican president, with the help of a translator, stepped forward to congratulate the negotiators for both countries and also stated that he hopes Canada will also come to an agreement with US.

Later in the day, the authorities at White House came up with the news that there has been exchange of words between the American president and the Canadian Prime Minister. Justin Trudeau came up with well wishes, congratulating Trump and discussing about the trade deal between US and Canada. As per the words from the authorities of White House, “The leaders discussed US – Canada trade and agreed to continue productive conversations.”

Also, Donald Trump has expressed his thoughts about the word NAFTA as he said he would be getting rid of it. This means that the new trade agreement would go into the news with a different name which, as per the plans of Trump, he would like to label as the “United States – Mexico Trade Agreement.”

The US Trade Representatives also came up with words about the trade deal, stating it as a preliminary agreement in the principle, which is yet to go through the stages of finalization and implementation.

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