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The presidents of the United States and Mexico announced on Aug. 27 that the two nations have reached a tentative trade deal. The bilateral agreement would replace the trilateral North American Free Trade Agreement (NAFTA) if Canada does not join in, according to a senior administration official.
President Donald Trump said that the new agreement will be called the United States-Mexico Trade Agreement. The president, who has called NAFTA "the worst economic deal in U.S. history," told reporters that the old name carried to many negative connotations.
"It's a big day for trade. It's a big day for our country," Trump said. "A lot of people thought we'd never get here because we all negotiate tough. We do. So does Mexico. And this is a tremendous thing."