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Another issue is dairy - not part of NAFTA right now, but Trump has fixated on destroying Canada's system of production quotas and tariffs. Trump needs to send a deal to Congress 90 days before passage, which would take things to the end of November, the day before the new Mexican president, Andres Manuel Lopez Obrador, takes office. America's neighbors to the north were not part of the negotiations. It could also end up being little more than a public relations stunt by an administration desperate to secure a win after more than a year of failures on trade, according to analysts. "This doesn't seem like a well-thought-out plan that leads anywhere sensible". Higher labor standards: The new deal would require that 40% to 45% of auto parts in cars sold be made by workers earning at least $16 Dollars per hour. To make that happen, given the 90-day USA notice requirement, signatures are needed on an agreement by the end of August - ie.

Talks to overhaul the agreement began a year ago and have proven contentious.

Prior to Trump's remarks, Canadian Foreign Minister Chrystia Freeland said through a spokesman that "Canada is encouraged by the continued optimism shown by our negotiating partners". Lighthizer argued he could - either give notice "that leaves open the possibility of Canada joining", or proceed without Canada if the country "elects not to join", he said. Another is urgency: Mexico and the US are in more of a rush, analysts say.

Mexico is a top-three importer for many of Minnesota's crops.

A fact sheet describing the bilateral agreement specified the content would be made in the United States and Mexico. "So if they had to compromise on energy, so be it".

Although Carter said he spoke with Canadian officials on television earlier, all of whom were "very concerned" about the future relationship with the USA and Mexico, he remained optimistic that an agreement could be struck.

"Trudeau and his ruling Liberal party will be concerned about a backlash from rural voters if they cede too much ground to the U.S. That said, there is some wiggle room, and Canada made concessions on this topic in the TPP agreement", he said.

The Administration says it will proceed with the new deal regardless of what happens with Canada, but that promise could run up against several roadblocks. (The Administration said Monday that it believes that it has met its legal requirement).

It's a preliminary deal between the two countries.

The development puts Canada in the spotlight after its five-week summer vacation during bilateral talks between the other NAFTA partners. "Even so, news of the deal still buoyed markets, although the currency market reaction was a little more interesting". This is the deal breaker for Justin Trudeau now, as it was for Brian Mulroney then. The trade deal is expected to provide security for US companies that invest in Mexico's energy sector, which outgoing President Enrique Peña Nieto opened up for foreign investment in 2013, ending 70 years of state monopoly.

But Freeland also said, "We will only sign a new NAFTA that is good for Canada and good for the middle class". She will start talks on Tuesday on the revised pact in Washington.

But Trump's claim was met with immediate pushback from the president of Mexico, who had been patched into the makeshift press conference by speakerphone.

Under the president's trade promotion authority, the White House notified Congress previous year that it was renegotiating NAFTA, not seeking a new bilateral pact with Mexico. "We're going to call it the United States-Mexico trade agreement".

If a deal is not reached with Canada, Mnuchin said on Tuesday, the United States would proceed with a separate trade agreement with Mexico. Mexico and Canada both initially opposed including a sunset provision. "The supply chain has to extend from all the way in the north to all the way in the south". Reaching a deal with only Mexico would throw that industry into disarray, experts warned.

Mexicans and US officials have been eager to revise NAFTA by the end of August to give allow the outgoing Mexican administration of Enrique Peña Nieto to sign the deal before leaving office. A fresh round of tariffs on autos would be more painful.

"He has his own ideas", Carter said. "It's an agreement that a lot of people said couldn't be done".