In phone calls with Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau, President Donald Trump "agreed not to terminate NAFTA at this time." | AP Photo Trump backs off NAFTA withdrawal

President Donald Trump told his Mexican and Canadian counterparts late Wednesday afternoon that he does not intend to withdraw from NAFTA "at this time," the White House said Wednesday, in a defeat for the economic nationalists on his team.

In phone calls with Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau, Trump "agreed not to terminate NAFTA at this time, and the leaders agreed to proceed swiftly, according to their required internal procedures, to enable the renegotiation of the NAFTA deal to the benefit of all three countries," the White House press office said in a readout of the calls.


"Both conversations were pleasant and productive," the statement continued.

The development came after POLITICO reported that White House aides were drafting an executive order on withdrawing from the pact, prompting an uproar from Republicans in Congress worried about disrupting business ties that currently support 14 million American jobs.

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"It is my privilege to bring NAFTA up to date through renegotiation," Trump said in a statement that attempted to put the issue to rest.

"It is an honor to deal with both President Peña Nieto and Prime Minister Trudeau, and I believe that the end result will make all three countries stronger and better,” Trump said.