Can Trump reshape NAFTA?

President Trump hates the North American Free Trade Agreement. But that's where the certainty ends. A lack of clarity over how he wants to renegotiate it has forced stakeholders to scramble to figure out what parts they want changed and what parts they want to defend.

Trump demonstrated how unpredictable he could be in mid-April, when he was poised to announce that America was pulling out of the agreement, which was struck with Canada and Mexico a quarter-century ago. The president has long argued that the U.S. got the short end of the deal that was finalized in 1993 and implemented in 1994 during the Clinton presidency.

With a draft executive order in hand and a finger on the kill switch, Trump was talked out of it at the eleventh hour when Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau called the White House to get him to stop, saying America's sudden exit would be too much of an economic "shock to the system."

By the end of their talks, Trump had made it plain that he's willing to walk away from NAFTA if he doesn't get his way, but also showed that he can be swayed.

NAFTA reduced trade barriers, tariffs and duties so that goods from each country have free access to markets in the others. A few Canadian products, mainly dairy and poultry, were exempted. The deal also includes agreements on customs procedures, government contracting, investment, intellectual property rights, and dispute settlement procedures, and it also defines "rules of origin," which are standards that determine which country a product is from.