The Trump administration formally launched efforts on Thursday to renegotiate the North American Free Trade Agreement (NAFTA) with Mexico and Canada.

By sending a notification letter to US lawmakers saying the administration wants NAFTA to be "modernized", US Trade Representative Robert Lighthizer triggered a 90-day consultation period with Congress and the American public that would allow talks to begin after August 16.

During his campaign, Trump railed against NAFTA, saying that the deal has taken manufacturing jobs from the U.S. The president even threatened to pull out of NAFTA entirely, but reportedly decided not to after phone calls with the leaders of Mexico and Canada.

In the letter, Lighthizer said that NAFTA needs modernization for digital trade, intellectual property rights, labor and environmental standards, rules for state-owned enterprises, and food safety standards.

Here's a copy of the document:

NAFTA Congressional Notification Letter by CNBC.com on Scribd

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