NAFTA talks were not concluded in time for the May 17 soft deadline required for passage by the U.S. Congress this year. There are three options. (1) Continue talks to deliver a so-called “skinny NAFTA” as the U.S. ITC could take less than its maximum 105 days to assess the deal. That’s unlikely given it did not rush TPP assessments in May 2016. (2) Delay a conclusion to focus on a full deal. That may prove risky with Mexican elections due July 1 and given only nine of 32 chapters are completed. (3) President Trump may choose to issue a termination notice, starting a six month clock to l...