"On August 31, 2018, President Trump notified Congress of his intention to 'enter into a trade agreement with Mexico -and with Canada if it is willing.' This notification and an announcement on August 27, 2018, that the United States and Mexico had reached a preliminary agreement in principle--subject to finalization and implementation--served as the culmination of a year of talks among the NAFTA partners. Talks with Canada have not concluded, and it is unclear whether Congress would support an agreement that does not include Canada. The United States and Mexico stated that they would like to sign the agreement before Mexico's president-elect is scheduled to take office on December 1, 2018. The final text of the agreement is not expected to be released until the end of September, pursuant to U.S. Trade Promotion Authority (TPA) requirements. USTR issued three fact sheets for the preliminary agreement between the United States and Mexico: Modernizing NAFTA into a 21st Century Trade Agreement; Strengthening North American Trade in Agriculture; and Rebalancing Trade to Support Manufacturing. This insight is based on the USTR fact sheets."
CRS Insight, IN10968
Congressional Research Service: https://crsreports.congress.gov/