Washington (People's Daily) - Canada ministers are worried US President Donald Trump could announce an exit strategy from the North American Free Trade Agreement (NAFTA) this year, said Washington D.C. insiders in a Reuters report released Wednesday.

It was reported that two anonymous sources said they expect Trump to make his move when treaty delegates from the US, Canada, and Mexico convene for the sixth of seven rounds of trilateral dialogue addressing the trade treaty on January 23 in Montreal, Quebec.

US Chamber of Commerce President Tom Donohue stressed the importance of global trade for the country’s growing economy, arguing that abandoning trade deals would undermine expansion during his annual address on the state of American business.

Donohue said a NAFTA exit would be a “grave mistake,” stressing that the US economy has made significant strides with regulatory relief and tax reform and credited the current administration,

“But a wrong move on NAFTA would take us five steps back,” he added.

Trump has repeatedly threatened to withdraw from NAFTA, unsatisfied with the number of benefits the US receives for its participation.

"The bottom line is growth will be weakened, not strengthened or sustained, if we pull back from trade," Donohue concluded.

Since the trilateral treaty was first announced 24 years ago, trade between the three countries has quadrupled.