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North American Free Trade Agreement

House Democrats and organized labor have thrown their support behind an updated trade agreement among the U.S., Mexico and Canada. The announcement came on the same day Democrats unveiled articles of impeachment against President Trump.

"This is a day we've all been working to," declared House Speaker Nancy Pelosi. "There is no question, of course, that this trade agreement is much better than NAFTA. But in terms of our work here, it is infinitely better than what was initially proposed by the administration."

Updated at 8:25 a.m. ET

President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new U.S. Mexico Canada Agreement — or USMCA — in Buenos Aires Friday, using the backdrop of the G-20 Summit to resolve a trade dispute between America and its closest neighbors.

"Let's go," all three leaders said as they sat alongside each other to sign multiple copies of the deal.

Updated at 5:40 p.m. ET

The United States and Mexico have reached an "understanding" on several critical trade issues following bilateral talks to renegotiate the North American Free Trade Agreement. They will now likely re-engage with Canada to reach a final deal on NAFTA, a primary goal of the Trump administration.

Speaking at the White House on Monday, President Trump said he wanted to change the NAFTA name to the U.S. Mexico Free Trade Agreement. He also reframed the negotiations as two bilateral trade deals.

Automakers are watching closely as the Trump administration tries to renegotiate the North American Free Trade Agreement, and the latest round of talks is under way in Mexico City this week.

NAFTA touches almost every business sector — few more than the car industry. Automakers say that changing the agreement could boost their costs and make them less competitive.

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RACHEL MARTIN, HOST:

The future of the North American Free Trade Agreement has become a major irritant in U.S.-Mexico relations, something President Trump acknowledged before the second round of NAFTA negotiations kicked off in Mexico last week.

The Trump administration on Wednesday will start to renegotiate the North American Free Trade Agreement with Canada and Mexico. And despite very tough talk about NAFTA during the campaign, it appears the administration has backed away from a major assault on the decades-old trade deal.

And that is a relief to businesses in all three countries.

During the presidential campaign, Donald Trump clearly tapped into frustration about workers who had lost jobs in manufacturing. And he painted NAFTA as one of the central villains responsible for stealing Americans jobs.

You've heard that American agriculture loves trade. And it's easy to see why: Under NAFTA, American farmers have quadrupled their exports to Canada and Mexico and the two nations rank second and third, after China, as markets for U.S. farm goods.

Associated Press

Presumptive Republican presidential nominee Donald Trump talked about job creation last night during a speech at the Ohio University campus in St. Clairsville.

Ohio Benefitting From NAFTA

Nov 8, 2013

20 years after the passage of the North American Free Trade Agreement, a Brookings Institution analysis shows billions of dollars worth of goods and services have been traded across the continent.