Trump Announces U.S.-Mexico Breakthrough On NAFTA. Talks With Canada To Start Immediately.

President Donald Trump announced on Monday from the Oval Office that the United States and Mexico have reached a new agreement on the North American Free Trade Agreement (NAFTA) and that the administration will immediately begin working with Canada on a deal.

Reuters reports that the new deal will require that “75 percent of auto content to be made in the NAFTA region, up from the current level of 62.5 percent” and will require “40 percent to 45 percent of auto content to be made by workers earning at least $16 per hour.”