The mature view is that the US, on the one hand, and Mexico and Canada, on the other, benefit from NAFTA and would benefit further from updates reflecting the needs of economies that have evolved over the past 3 decades. Likewise, all would suffer a brutal transition and loss of many long term benefits if NAFTA was terminated.

These will be tough negotiations and may be punctuated by one side or the other suspending negotiations or threatening to terminate NAFTA.  However, there are good reasons to believe that after prolonged negotiations a viable compromise solution will emerge.

The key is for Canada and Mexico to remain steadfast and reasonable and not allow themselves to become overawed or bullied into accepting unreasonable concessions to the US or into foregoing reasonable US concessions as part of the final bargain.