President Trump's administration officially got the ball rolling on the renegotiation of the North American Free Trade Agreement on Thursday, giving Congress official notice that it intends to renegotiate the terms of the 23-year old trade agreement with neighbors Mexico and Canada. 

"The president's leadership on trade will permanently reverse the dangerous trajectory of American trade," U.S. Trade Representative Robert Lighthizer told reporters in a conference call today. "While our economy and businesses have changed considerably, Nafta has not. Most chapters are clearly outdated and do not reflect the most recent standards in U.S. trade agreements."

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