I think the real issue and the pace of the negotiation will obviously be driven by the Americans. There will be a presidential election in Mexico. That may certainly stall things on the Mexican side. The Americans, as the big trading partner—the elephant in the room—will drive the timetable. But there's a big question mark there. Wilbur Ross, the Secretary of Commerce, has said that he wants a deal next year. He has also said that he wants to revisit every single chapter of NAFTA. He's not going to be able to have it both ways. If he wants to revisit every single chapter of NAFTA, they're looking at a three-year negotiation, if they're lucky. They're going to have to make some tough choices.
As I said in my opening remarks, I think the President is looking for the quick fix. That works to our advantage. It works to the Mexicans' advantage, as they can play the clock too, not just with the Americans, but in the context of their own domestic political situation. The quick fix means going for some hits where we're willing to take a bit of pain and get something in return. That would also be true on the Mexican side so that Trump can say he's delivered.
We'll see the fate of the health care bill today, at least in the lower house, but he's not doing very well, and he has to deliver on something.