President Trump announced Monday that a deal to replace the North American Free Trade Agreement (NAFTA), dubbed the U.S.-Mexico Trade Agreement, has been made, and that he hopes to begin negotiations with Canada soon.

Texas Senator John Cornyn issued the following statement in response to the deal between Pres. Trump and Mexican President Enrique Pena Nieto:

“This is a positive step, and now we need to ensure the final agreement brings Canada in to the fold and has bipartisan support.

A trilateral agreement is the best path forward, and any modernized agreement should do no harm to states like Texas whose economy has seen the benefits of cross-border commerce.

Millions of jobs in Texas depend on an updated NAFTA, and it’s important that we get this right.”

Below is a video of President Trump announcing the deal late Monday morning. Trump said he will be contacting Canadian Prime Minister Justin Trudeau in hopes of bringing Canada into the fold, and threatened tariffs on Canadian cars if Trudeau doesn't play ball.