Mexico

Updated at 3 p.m. ET

The Trump administration has reached a deal to lift tariffs on steel and aluminum imports from Canada and Mexico, in a move that could put the three nations a step closer to ratifying the USMCA trade deal that would replace NAFTA.

The tariffs will be lifted within two days, according to a joint U.S.-Canada statement posted by Canada's foreign ministry.

President Trump is backing down from his threat to shut down the U.S. Southern border as soon as this week.

Trump had issued the warning in a bid to curtail surging border crossings by asylum-seekers from Central America. Instead, he is now giving Mexico "a one-year warning" to address his concerns about its handling of immigrants traveling through the country on the way to the United States. He also demanded that Mexico tamp down on the flow of drugs.

Updated at 8:25 a.m. ET

President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new U.S. Mexico Canada Agreement — or USMCA — in Buenos Aires Friday, using the backdrop of the G-20 Summit to resolve a trade dispute between America and its closest neighbors.

Updated at 3:45 p.m. ET

The U.S. and Canada reached a deal to replace the North American Free Trade Agreement, signed a quarter-century ago, with a new pact that the Trump administration says is easier to enforce.

In remarks in the Rose Garden formally announcing the agreement, President Trump called it "the most important trade deal we've ever made by far."

Ahead of a midnight deadline set by the White House, Trump approved changes that essentially revamp the 1993 NAFTA deal, bringing Canada on board after Mexico had already agreed in August.

Updated at 5:40 p.m. ET

The United States and Mexico have reached an "understanding" on several critical trade issues following bilateral talks to renegotiate the North American Free Trade Agreement. They will now likely re-engage with Canada to reach a final deal on NAFTA, a primary goal of the Trump administration.

Speaking at the White House on Monday, President Trump said he wanted to change the NAFTA name to the U.S. Mexico Free Trade Agreement. He also reframed the negotiations as two bilateral trade deals.

After U.S. tariffs on imports of European steel and aluminum took effect Friday morning, the EU's top trade commissioner called them "illegal" and a classic case of protectionism.

The EU plans to make its case to the World Trade Organization.

Updated at 8:18 p.m. ET

The Trump administration's latest move to impose tariffs on steel and aluminum imports from the U.S.'s biggest strategic and trade partners has touched off a barrage of criticism and retaliation.

President Trump made his view of the North American Free Trade Agreement very clear during the presidential election. He called NAFTA "the worst trade deal in ... the history of this country." And Trump blamed NAFTA for the loss of millions of U.S. manufacturing jobs.

His administration is in the midst of renegotiating the free trade deal with Canada and Mexico, and that is making many U.S. farmers and ranchers nervous.

Officials from the U.S., Mexico and Canada met Wednesday to begin renegotiations of the North American Free Trade Agreement. In an opening statement, U.S. Trade Representative Robert Lighthizer praised President Trump for the fact that these negotiations were even happening.

"American politicians have been promising to renegotiate NAFTA for years, but today, President Trump is going to fulfill those promises," he said.

The Trump administration on Wednesday will start to renegotiate the North American Free Trade Agreement with Canada and Mexico. And despite very tough talk about NAFTA during the campaign, it appears the administration has backed away from a major assault on the decades-old trade deal.

And that is a relief to businesses in all three countries.

During the presidential campaign, Donald Trump clearly tapped into frustration about workers who had lost jobs in manufacturing. And he painted NAFTA as one of the central villains responsible for stealing Americans jobs.

The Trump administration has set into motion the process to renegotiate the North American Free Trade Agreement, following through on the president's earlier promise.

U.S. Trade Representative Robert Lighthizer formally notified congressional leaders in a letter Thursday that the president intends to launch negotiations with Canada and Mexico "as soon as practicable."

Updated at 2:40 p.m. ET

President Trump told reporters Thursday he had been planning to terminate the North American Free Trade Agreement within days, but decided to try to renegotiate the agreement instead. The president held out the possibility of killing the trade deal later if the negotiations fail.

Updated at 6:45 p.m. ET

The Trump administration is considering alternative ways to pay for the border wall, backtracking on the president's oft-repeated promise that Mexico would foot the bill.

A White House spokesman said one idea taking shape is to apply a 20 percent tax on imports from Mexico, as well as other countries with which the U.S. has a trade deficit. That would effectively saddle U.S. consumers with a significant portion of the wall's cost, estimated at $15 billion or more.

From the start of his campaign, after he descended the golden escalator to give his announcement speech, Donald Trump promised to build a wall along the U.S.' Southern border. Now, Trump is taking the first steps toward keeping that promise, with an executive action that calls for building that wall.

In line with his campaign theme of tightening laws on immigration, that action will call for other measures, such as hiring more Border Patrol agents and expanding detention space.

Updated at 5:50 p.m. ET

President Trump has signed two executive orders related to immigration and border security, moving ahead with his plans to build a wall along the U.S. border with Mexico and to deport people who are in the country illegally.