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Trump would face intense opposition from U.S. border states, Congress and the Senate if he chose to pull out of NAFTA, Woo said. To do that, the U.S. would also have to give Canada and Mexico six-month's notice.

The U.S. remains Canada's most important trading partner. Last year, there was more than 544 billion U.S. dollars in bilateral trade between Canada and the U.S. Giovani Lo Celso Argentina Camiseta , according to U.S. census figures.

But China is Canada's second-largest trade partner, and economic activity between the two countries grew by more than 10 percent in 2015, over 2016, reaching 86 billion Canadian dollars (68.8 billion U.S. dollars) in two-way merchandise trade.

Woo said if the negotiators cannot reach a quick conclusion, then the process could end up taking much longer than the six-month period that was expected from the outset of talks.

"If it looks like we're getting bogged down then maybe this will just drag on to where the appetite for renegotiation starts to fade away," he said.

The second round of NAFTA talks are set to resume next week in Mexico City and the talks are expected to include at least five more sessions held at three-week intervals.

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