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President Obama made a U.S.-led renegotiation of North American Free Trade Agreement (NAFTA) labor and environmental standards a central promise of his campaign. But asked today if he plans to start negotiations during his Thursday visit to Canada, Mr. Obama suggested that economic duress may postpone the NAFTA plans.

“There are a lot of sensitivities right now because of the huge decline in world trade,” Mr. Obama told the Canadian Broadcasting Corporation. “As I've said before, NAFTA, the basic framework of the agreement has environmental and labor protections as side agreements -- my argument has always been that we might as well incorporate them into the full agreement so that they're fully enforceable.”

He quickly stressed the importance of the trade relationship between the United States and her peaceful neighbor to the north.

“Canada is one of our most important trading partners. We rely on them heavily, there's $1.5 billion worth of trade going back and forth every day between the two countries and that it is not in anybody's interest to see that trade diminish,” he said.

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President-elect Barack Obama met with Mexican President Felipe Calderon today, a meeting that furthered the tradition of incoming U.S. presidents sitting down before their inauguration with their soon-to-be counterparts to the south.

Mr. Obama vowed to strengthen the relationship between the two countries, saying he would work "to build on the commercial ties, the security ties and the cultural ties that exist between the United States and Mexico."

"My message today is that my administration is going to be ready on day one to work to build a stronger relationship with Mexico," he said.

The pair talked about a wide range of issues, Mr. Obama said, including border security, NAFTA, and "how we can have a comprehensive and thoughtful [immigration] strategy that ultimately strengthens both countries."

Mr. Obama and Calderon shared an hour-and-a-half-long lunch of tortilla soup at the Mexican Cultural Institute. The president-elect praised Calderon for his handling of the Mexican economy and drug trafficking issues.

"The friendship between the U.S. and Mexico has been strong," Mr. Obama said. "I believe it can be even stronger."

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