WASHINGTON—House Speaker Paul Ryan (R-WI) issued the following statement after the Trump administration announced its intent to renegotiate the North American Free Trade Agreement (NAFTA):

“I welcome the administration’s effort to improve and update NAFTA for the 21st century economy. The United States values its strong economic ties with Mexico and Canada, and these negotiations should work to enhance our trilateral trading relationship. Congress looks forward to working hand-in-hand with the Trump administration to achieve the best deal possible for American workers and our economy."