Investing.com -- U.S. Trade Representative Jamieson Greer announced Friday that the first round of formal negotiations to update the U.S.-Mexico-Canada trade agreement will take place next week in Mexico City, with discussions centered on strengthening regional rules of origin and economic security provisions.

Speaking to reporters at a Micron Technology memory chip plant in suburban Washington, Greer said regional content rules need to be changed to help re-shore U.S. manufacturing.

"If you're going to get a special deal on trade with the United States of America, we want to make sure that there's U.S. content in that," Greer said.

The trade representative acknowledged that automakers have called to keep the six-year-old USMCA a trilateral trade deal. Next week's talks will be between the U.S. and Mexico only and will exclude Canada.