President Trump Donald John TrumpBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Romney: 'Unthinkable and unacceptable' to not commit to peaceful transition of power Two Louisville police officers shot amid Breonna Taylor grand jury protests MORE told donors that he hopes to rebrand the North American Free Trade Agreement (NAFTA) among the U.S., Mexico and Canada as the "USMC" pact, The Wall Street Journal reported Thursday.

If the U.S. is unable to come to terms on a deal with Canada, Trump said he's willing to drop the "C" from the new name to make it simply USM.

"USMC" is also a common abbreviation for the United States Marine Corps.

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The Journal reported that Trump floated the new name and hit Canada over tariffs during a private meeting with roughly a dozen supporters on Wednesday night, which was followed by a pricey fundraiser dinner at Trump International Hotel in Washington, D.C.

Trump, who has repeatedly characterized NAFTA as the "worst" trade deal ever made, expressed a desire to be rid of the pact's name when he announced a breakthrough in trade negotiations with Mexico late last month.

"They used to call it NAFTA. We're going to call it the United States-Mexico Trade Agreement, and we'll get rid of the name NAFTA," he said. "It has a bad connotation because the United States was hurt very badly by NAFTA for many years."

The U.S. has yet to reach an agreement with Canada as the two sides continue negotiations. Representatives are aiming to complete a deal by the end of the month so the three nations can sign a new agreement by the end of November.

However, Trump has expressed a willingness to complete a deal without Canada, saying earlier this month that there's "no political necessity" to include the U.S.'s neighbor to the north.