Article snippet: MORE said Monday the U.S. has reached an agreement with Mexico amid contentious talks on revamping the North American Free Trade Agreement (NAFTA). Trump declared the name "NAFTA" would be scrapped for an updated North American agreement, saying it has "bad connotations." "It’s a big day for trade. It’s a big day for our country," the president told reporters in the Oval Office, who were summoned to watch Trump speak by phone with outgoing Mexican President Enrique Peña Nieto. Trump cast doubt on whether Canada would be party to a new trade agreement, ramping up pressure on the country to agree to new terms to remain a part of the pact. "We will see whether or not we decide to put up Canada or just do a separate deal with Canada, if they want to make the deal," Trump said, adding that the two nations would begin talking "relatively soon." The president said he plans to "terminate" the existing NAFTA agreement and move forward with the new emerging deal with Mexico. If Canada is excluded, it would mark a major shift in U.S. trade policy, which has been guided by NAFTA for the past quarter-century. Trump would need Congress to approve the break-up of the three-nation agreement, a move that most on Capitol Hill would likely oppose. A senior White House official said the administration plans to notify lawmakers of the U.S.-Mexico agreement, even if Canada is not yet on board. "Ideally we'll have the Canadians involved," said the official. "If not, we will notify th... Link to the full article to read more