Trump won't ditch NAFTA

Photo: The Canadian Press

President Donald Trump on Wednesday told the leaders of Mexico and Canada that he will not immediately pull out of the North American Free Trade Agreement, just hours after administration officials said he was considering a draft executive order to do just that.

The White House made the surprise announcement in a read-out of calls between Trump, Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau.

"President Trump agreed not to terminate NAFTA at this time and the leaders agreed to proceed swiftly, according to their required internal procedures, to enable the renegotiation of the NAFTA deal to the benefit of all three countries," said the White House.

Trump said he believes "the end result will make all three countries stronger and better."

The Mexican government confirmed the conversation in a statement issued late Wednesday.

"The leaders agreed on the convenience of maintaining the North American Free Trade Agreement and working together with Canada to carry out a successful renegotiation for the benefit of all three countries," the statement read.

Trudeau's office issued a brief statement saying "the two leaders continued their dialogue on Canada-U.S. trade relations, with the Prime Minister reinforcing the importance of stability and job growth in our trade relations."