Industry groups cautiously optimistic about US-Mexico trade deal, urge continued talks with Canada

U.S. industry groups are cautiously optimistic about Monday’s announcement that the U.S. and Mexico reached a preliminary agreement to update a key trade deal between the two countries and Canada.

The uncertain future of the North American Free Trade Agreement, which President Trump has frequently criticized, has weighed on automakers, retailers, farmers, and others. Trump previously threatened that the U.S. might simply withdraw from NAFTA if the negotiations aren’t successful, a move that would send American businesses scrambling to adjust their supply chains and manufacturing operations in Mexico and Canada.