MEXICO CITY, Oct. 19 (Xinhua) -- The renegotiated United States-Mexico-Canada Agreement (USMCA) will bring many benefits to North America for several years, U.S. Secretary of States Mike Pompeo said here Friday.

In brief remarks to reporters, Pompeo thanked the Mexican government for the work it did and the "vigorous debate" in order to reach a modernized North American Free Trade Agreement (NAFTA) after over a year's negotiation.

"We reached an outcome that will benefit the three countries for many years to come, which will create jobs and riches for our countries," Pompeo said.

The three countries came to an agreement on Sept. 30 for the new NAFTA, following negotiations that began in August 2017.

However, it must be signed by the leaders of the three countries which could occur by the end of November. It would then need to be approved by each of the countries' legislative bodies.

Pompeo went on to say that once the trade agreement is done, one of the biggest issues facing the United States and Mexico will be immigration on the southern border.

According to reports, thousands of Honduran immigrants have begun marching from their country in caravans to flee poverty and violence in the Central American country.

On Thursday, through his Twitter account, U.S. President Donald Trump threatened to call up the military and close the border if measures are not taken to stop the flow of immigrants.

During the same meeting with reporters, Mexican Foreign Minister Luis Videgaray said: "Mexico's immigration policy is defined by Mexico just like the United States' immigration policy is defined by the United States."

The Mexican government has deployed some 240 federal police to reinforce security along the border it shares with Guatemala. The measure was appreciated by Trump on Twitter.