The current budget director will be "acting" chief, replacing John Kelly after a chaotic search by the president.
"The United States-Mexico-Canada Agreement" will replace the 24-year-old NAFTA.
The president denounces the use of his off-the-record remarks but says that "[a]t least Canada knows where I stand!"
After the president announces a 25 percent tariff on up to $50 billion in Chinese imports, set to take effect July 6, Beijing's commerce ministry says it will retaliate with penalties of the same scale on American goods.
Farm-state representatives say the president has asked trade officials to revisit joining negotiations for the Trans-Pacific Partnership, which would open more overseas markets for U.S. farmers.
The Dow Jones industrial average drops 724.42 points (2.9 percent) on investor worries that trade tensions between the U.S. and China will escalate. Planned sanctions include tariffs on $48 billion worth of Chinese imports.
Mexico, Canada and the U.S. should abandon the corporate model of trade that puts profits before protection of people and the planet.