US, Mexico to replace NAFTA with new trade deal

US-Mexico

The US and Mexico have reached a deal to replace the North American Free Trade Agreement (NAFTA) with the ‘United States-Mexico Trade Agreement’. Mexican President Enrique Peña Nieto said his country wanted to incorporate NAFTA partner Canada into the new deal. US President Donald Trump had threatened to withdraw from NAFTA, claiming that the trilateral deal disadvantaged the US.