"I am pleased to notify the Congress that the President intends to initiate negotiations with Canada and Mexico regarding modernization of the North American Free Trade Agreement (NAFTA)," the letters from US Trade Representative Robert Lighthizer stated.
The four letters sent to House of Representatives Speaker Paul Ryan, House Minority Leader Nancy Pelosi, President Pro Tempore of the Senate Orrin Hatch and Senate Minority Leader Chuck Schumer noted that the goal of renegotiation is to improve opportunities under NAFTA in order to grow the US economy.
Now that the letters have been sent to Congress, Trump and his administration can start renegotiating NAFTA in 90 days.
Trump has often decried trade deals like NAFTA — which was signed by former President Bill Clinton — as a bad deal for the United States.
One of Trump’s first acts upon becoming president of the United States was to withdraw the country from the Trans-Pacific Partnership free trade agreement that had been negotiated by his predecessor Barack Obama.
"I look forward to working with the President, [US Trade Representative] Ambassador Lighthizer and our counterparts in Mexico and Canada to find a solution that is both fair and beneficial for all parties," Ross stated.
President Donald Trump has frequently stated he wanted to renegotiate NAFTA and said US-based industries and American workers have suffered under the trade agreement.
"President Trump is going to change that," the released added.
NAFTA took effect on January 1, 1994 during the presidency of Bill Clinton.
