Wit Nafta News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Breakthrough. we're going to have a renewed nafta. we don't call it nafta any longer, but a renewed free trade agreement. the big deal right now is china. are we going to get this deal done with china? right now, i don't think they're anywhere, and i don't see trump backing down. there is some fear that we may have a protracted trade war with china. >> which has a lot more riding on it when trump meets with xi jinping at the g-20. >> he said i put my arm around president xi and said you know you're cheating. quintessential trump. trump isn't going to back down and china is going to have to mak...

Deal with our neighbor to the south. >> we used to call it nafta, now we call it the united states mexico trade agreement and we will get rid of the name nafta which has bad connotation because the united states was hurt badly by nafta. >> reporter: the outgoing mexican president was as enthusiastic about the deal as donald trump was, even saying he would like to give donald trump a big hug. he acknowledged getting to it was tough. >> and negotiation that has been difficult and a hard negotiation. >> the biggest change in a trade relationship, rules of origin for cars, 75% of components used t...

President trump may not want to call it nafta which he thinks has a bad connotation but "the new york times" points out the agreement is essentially the same with some revisions. so that's where it stands right now. we also mentioned the first big challenge, canada. many businesses supply chains depend on a deal with all three countries involved. the ceo of a major manufacturing group says having all three countries on board is imperative. the second challenge, congress. this agreement between the u.s. and mexico would have to be ratified by congress and lawmakers wouldn't vote on it until nex...

President trump is cutting a new trade deal with mexico and trying to wrap up negotiations with canada. the president is ditching the nafta name saying the new pact with mexico is simpler. john roberts has details tonight, from the more thon, good evening. >> good evening, white house officials tell us this is just the first shoe to drop, the president additions to a day wants to cut lines with canada. with japan, the european union and then take on china, the biggest of all. >> him i believe the president is on the phone. henrique. >> it was another oval oval ofe first, he was on speakerphone...

Ownership of it. but enrique pena nieto was calling it nafta? >> yeah. if they are having a debate about the semantics, that's an indication that there could be more difficult negotiations around the corner when canada gets involved. here is the thing. president trump can say that nafta is dead. nafta is not dead until there is a superceding trade authority. to have that you need not only the approval of the united states congress, you need the approval of the legislatures in canada. that's up from 62%. there need to be a certain number of employees that make $16 an hour. that doesn't though f...