But there are growing doubts that it will survive through its 24th.
NAFTA is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America, which came into force on January 1, 1994.
NAFTA eliminated trade barriers between the U.S., Canada and Mexico to generate trade growth.
That disparity has made Mexico a target for NAFTA critics from the left as well as from the populist right represented by Trump.
"What is the administration going to do?"
"We've not yet gotten to the hard part", Ross told Dentons' senior business adviser, James Moore, a former Canadian minister who sits on Trudeau's Nafta advisory panel.
If negotiations fail to reach a solution, Trump alluded to the possibility of having separate deals with Canada and Mexico. On the campaign trail, he called NAFTA a job-killing disaster. "We'll see what happens", he said when asked if the deal is already dead. Trudeau said he recognized that there were proposals in the deal that the USA and Canada disagreed on, but insisted that the talks had begun on Wednesday "in good faith".
Levy pegs the chance of NAFTA's survival at less than 50 percent. In other words, if you took out trade in cars and auto parts over America's southern border, the US would actually be running a trade surplus with Mexico.
A lot of the pressure to tear up NAFTA is coming from the manufacturing sector.
The government has learned that being friendly with Trump has a high domestic cost but produces few tangible benefits for Mexico, and so has moved to align itself more closely with Mexican popular opinion.
President Trump said if the three countries can not come to a deal, he's open to a brand new agreement with just Canada or Mexico. But critics say the pact sent hundreds of thousands of US manufacturing jobs to Mexico, where corporations took advantage of low-wage labor.
Trudeau was more optimistic about the future of the 23-year-old trade deal. But U.S. Trade Rep. Robert Lighthizer declared at the outset that the U.S. wouldn't be satisfied with anything but a major overhaul.
Donahue identified proposals from the Trump administration to impose a sunset clause that would stipulate that the revised trade agreement would terminate after five years unless all three countries agree it should continue and increasing the percentage of parts that are used in cars and other products that have to made in the U.S., Canada or Mexico to qualify for duty-free treatment under the deal as troublesome to negotiators from Canada and Mexico.
"There are several poison pill proposals still on the table that could doom the entire deal", he said in a speech in Mexico City, Tuesday.
President Donald Trump and first lady Melania Trump welcome Canadian Prime Minister Justin Trudeau and his wife Sophie Gregoire Trudeau to the Oval Office of the White House, Wednesday, Oct. 11, 2017, in Washington. But he acknowledged that "we have to be ready for anything - and we are".
Mr Trudeau and President Trump met on Wednesday in Washington. But Congress can fight back.
The United States, Mexico and Canada began renegotiating NAFTA this summer.
For that reason, many agricultural lobbies and lawmakers from farm states have urged the administration to "do no harm" in the NAFTA talks.
Ujczo expects supply-management in Canada to be brought up in this round.
Trump welcomes Trudeau on the South Lawn before their meeting about NAFTA.