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Trump threatened to 'terminate' NAFTA if a 'fair' deal could not be reached

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UPDATE 7:22 a.m. EST: Trump weighed in on his NAFTA plans early Thursday.

He threatened that if a "fair" deal was not reached, "we will then terminate NAFTA."

UPDATE April 27, 5:50 a.m. EST:

President Trump told the leaders of Canada and Mexico on Wednesday the U.S. would not be leaving the North American Free Trade Agreement "at this time," The Washington Post reports.

The administration is expected to start the process of renegotiating NAFTA.

ORIGINAL STORY: President Trump's administration is considering writing an executive order that would pull the U.S. out of the North American Free Trade Agreement, Politico reported Wednesday.

A draft executive order has been submitted for review and could be unveiled as early as this week, officials told Politico. Trump repeatedly promised to renegotiate NAFTA on the campaign trail, but lately has said the "very, very bad" trade deal, which he once called the "single worst trade deal ever" could be scrapped entirely.

Trump has called NAFTA "one-sided."

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White House strategist Stephen Bannon speaks during the Conservative Political Action Conference (CPAC) in Oxon Hill, Md., Thursday, Feb. 23, 2017. (AP Photo/Susan Walsh)

Peter Navarro, head of Trump's National Trade Council, reportedly drafted the order with close cooperation from chief strategist Steve Bannon.  

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Workers continue work raising a taller fence in the Mexico-US border separating the towns of Anapra, Mexico and Sunland Park, New Mexico, Wednesday, Jan. 25, 2017. U.S. President Donald Trump says his administration will be working in partnership in Mexico to improve safety and economic opportunity for both countries and will have "close coordination" with Mexico to address drug smuggling. It will set in motion the construction of his proposed border wall, a key promise from his 2016 campaign. (AP Photo/Christian Torres)

Earlier this week, Trump signed a new tariff on softwood lumber imported from Canada. His insistence that a wall will be built on the southern border have angered Mexico.

Other countries with walls on their borders
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