Trump to drop tariffs if revised NAFTA deal signed

United States President Donald Trump, in a series of tweet on Monday, said, that tariffs he announced on steel and aluminum imports may not be implemented, at least for Canada and Mexico if there is "a new & fair" North American Free Trade Agreement (NAFTA).

"We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed. Also, Canada must..," he tweeted.

"...treat our farmers much better. Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done. Millions of people addicted and dying," Trump added.

Earlier on Sunday, Trump threatened to increase the price of automobile export in retaliation of the European Union's decision to change its trade policies regarding the export of steel and aluminium.