Trump agrees to renegotiate NAFTA deal with Canada, Mexico

U.S. President Donald Trump has agreed to renegotiate the North American Free Trade Agreement (NAFTA) instead of withdrawing it after speaking to the leaders of Mexico and Canada to see if the deal can be made.

"I received calls from the President of Mexico and the Prime Minister of Canada asking to renegotiate NAFTA rather than terminate. I agreed.subject to the fact that if we do not reach a fair deal for all, we will then terminate NAFTA. Relationships are good-deal very possible!" Trump tweeted.

Late this afternoon, Trump spoke with both Mexican President Peña Nieto and Canadian Prime Minister Justin Trudeau.

"Both conversations were pleasant and productive," The White House said in a statement.

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.

"It is my privilege to bring NAFTA up to date through renegotiation. It is an honor to deal with both President Peña Nieto and Prime Minister Trudeau, and I believe that the end result will make all three countries stronger and better," Trump said.