President Donald Trump, at an event in Phoenix, said that the U.S. will "end up probably terminating" the North American Free Trade Agreement with Canada and Mexico "at some point."
The U.S., Mexico and Canada began formal negotiations last week to rework the 23-year-old trade pact that Trump slammed during his campaign as the "worst" in history.
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The Canadian and Mexican negotiators believe NAFTA needs to be updated. But they have defended the pact, which eliminated most barriers on trade between the countries, as an economic success story.
A quick refresher on NAFTA can be viewed here: https://youtu.be/21_qyaYKMKs .