Trump threatens not to renew the trade agreement with Canada and Mexico

US President Donald Trump announced on Wednesday that he is not seeking a direct renewal of the free trade agreement with Mexico and Canada, paving the way for long negotiations.

Trump’s statements came before the date of renewing the tripartite agreement on July 1 for an additional 16 years.

If it is not renewed, the agreement will remain in effect, subject to annual reviews until 2036.

Trump told reporters, “I am not seeking to renew it,” in response to a question about when it will be reviewed in July. He added, “We don’t need anything that Canada has, and we don’t need anything that Mexico has, but they need everything we have,” noting that the two countries are the largest trading partners of the United States in the field of goods.