President Trump could sign an executive order on Monday intended to renegotiate the free trade agreement between the US, Canada and Mexico, it was reported on Monday.

The North American Free Trade Agreement (Nafta), negotiated by George HW Bush and enacted in the 1994 by Bill Clinton, was supported by more Republicans than Democrats.

But Trump hammered the deal during his election campaign, focusing populist anger in industrial heartland against trade, and expressed similar sentiments to business leaders at the White House on Monday.

“We want to bring manufacturing back to our country,” the president said, promising to slash regulations. “It’s one of the reasons I’m sitting here instead of somebody else sitting here.”

He added: “We want to start making our products again. We don’t want to bring them in; we want to make them here. That doesn’t mean we don’t trade because we do trade, but we want to make our products here.

“If you look at some of the original great people that ran this country, you will see that they felt very strongly about that.”

Since winning last November’s election, Trump has singled out and threatened to impose tariffs on US companies that move production to Mexico.

On Monday, he promised: “There will be advantages to companies that do indeed make their products here. It’s going to be a wave. You watch, it’s going to be a wave.”

Trump had said on Sunday he planned talks with the Canadian prime minister, Justin Trudeau, and the Mexican president, Enrique Peña Nieto, to begin renegotiating Nafta “on immigration and on security at the border”. Citing an unidentified White House official, NBC said the executive order could come on Monday.

Canada’s ambassador to the US said it was clear the Trump team were concerned principally about trade deficits with Mexico and China. “I don’t think Canada is the focus at all,” David MacNaughton told reporters in Calgary, Alberta.

On Monday, Trump also intends to sign an executive order pulling out of the Trans-Pacific Partnership (TPP), according to NBC. The TPP, among 11 Pacific rim countries, was backed by Barack Obama but was never ratified by the Republican-controlled Congress.

Trump, who was sworn in as the 45th US president on Friday, targeted both trade pacts during his election campaign. His opponent, Hillary Clinton, also spoke out against the TPP.

Trump has been accused of hypocrisy because many of his business’s own products are manufactured overseas.

In his bleak inaugural address on Friday, Trump described “rusted-out factories scattered like tombstones across the landscape of our nation” and pledged to boost US industries over those abroad. Critics argue that some trends, such as the automation of factories, are irreversible.

Trump’s official schedule on Monday includes a 10.30am signing of executive orders in the Oval Office. He began the day tweeting: “Busy week planned with a heavy focus on jobs and national security. Top executives coming in at 9:00 A.M. to talk manufacturing in America.”

The new president has a meeting with union leaders and workers in the afternoon, followed by a reception with members of Congress and a meeting with House speaker Paul Ryan. His controversial press secretary, Sean Spicer, will also hold a media briefing.

A Senate committee is set to vote on Trump’s nominee for secretary of state, Rex Tillerson, the former head of ExxonMobil. There is speculation over whether Marco Rubio, a senator for Florida, will give his backing.

The White House is seeking to recover from a rocky opening weekend in which Trump was criticised for using a CIA appearance to boast about his inauguration crowds and attack the media. Spicer presented false information at his first press briefing.

Trump also spoke with the Israeli prime minister, Benjamin Netanyahu, who accepted an invitation to visit the White House in early February.

