Investing.com -- Mexican President Claudia Sheinbaum stated Thursday that the trilateral free trade agreement between Mexico, the United States, and Canada will remain in place. The agreement is known as the USMCA.

U.S. President Donald Trump said Wednesday that the United States might not renew the free trade deal. Trump claimed the country did not need anything from its North American counterparts.

The three nations must approve a renewal of their existing agreement by July 1 or signal their intention to exit the pact.