The President has drafted an order and submitted it to the final stages of review and it could be completed by the end of the week.
NAFTA is a trade treaty entered into by the United States, Canada, and Mexico in 1994 and saw the three countries become the largest free market in the world.
But the Republican wants to extract better deals from Canada and Mexico, as he feels his nation could be making more money from the free flow of goods and services between the nations.
NAFTA, signed off by Bill Clinton, was a massive centrepiece of the Trump campaign and now he appears to be coming good on his promise to do away with the “rotten” deal.
He said: “NAFTA’s been very, very bad for our country.
“It’s been very, very bad for our companies and for our workers, and we’re going to make some very big changes or we are going to get rid of NAFTA once and for all.”
White House chief strategist Steve Bannon rated the executive order alongside the President.
As part of his “America First” approach, Mr Trump promised to renegotiate multilateral trade deals including NAFTA.
He claims such deals have killed jobs and he gleefully described it as “the worst trade deal ever” while standing alongside Hillary Clinton during the televised debates.
If President Trump signs the order it is sure to enrage Mexico further, with tensions already at fever pitch considering the Republican’s insistence on building the border wall.
Express.co.uk has contacted the White House and is awaiting reply.
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