President Trump terminating NAFTA and pursuing deal with Mexico, Canada

US President Donald Trump and Mexican President Enrique Pena Nieto hold a meeting on the sidelines of the G20 Summit in Hamburg, Germany, on July 7, 2017.

President Donald Trump says he’ll be “terminating” the North American Free Trade Agreement as he pursues a deal with Mexico and starts negotiations with Canada.

Trump said Monday during an Oval Office event that he’ll be calling the emerging agreement the “United States-Mexico Trade Agreement.” He says it will mark the end of the NAFTA name.

Mexican President Enrique Peña Nieto was on speakerphone and says he hopes NAFTA partner Canada will eventually be incorporated into the deal.

Adam Austen, a spokesman for the Canadian Foreign Minister, says Canada had been in regular contact with the NAFTA negotiators.

He says, “We will only sign a new NAFTA that is good for Canada and good for the middle class,” adding that, “Canada’s signature is required.”