Donald Trump's hope for quick-fix NAFTA renegotiation is a $1.1 trillion pipe dream

The White House has started the clock. The re-negotiation of the North American Free Trade Agreement (Nafta), which underpins $1.1. trillion in trade between the US, Canada, and Mexico, will start no later than August 16. But will it be a spruce-up or a gut renovation? 

When US Trade Representative Robert Lighthizer calls these trade talks (pdf) an effort at "modernization," one pictures a...