President Trump on Monday said the U.S. has reached an "understanding" with Mexico amid contentious talks on revamping the North American Free Trade Agreement (NAFTA).
During an announcement in the Oval Office, Trump said the NAFTA name would not be used for a new North American agreement.
"It’s a big day for trade. It’s a big day for our country," he told reporters.
The agreement is the most significant development in the year-long talks on overhauling NAFTA, which Trump has called a "disaster" and repeatedly threatened to exit.
Trump said the understanding with Mexico could pave the way for Canada to re-enter talks, saying, “we’ll see if Canada can be part of deal."
But negotiators face a number of key hurdles before completing a deal.
Canada has not participated in NAFTA talks since July as the U.S. and Mexico worked through their differences. The nation would need to sign off in order to complete a NAFTA overhaul.
Read more at TheHill.com