The atmosphere surrounding the talks to renegotiate the North American Free Trade Agreement is so bad that many stakeholders are contemplating the possibility that they could fail completely and President Trump follows through on his threats to pull the U.S. out of the 1993 trade pact among the U.S., Canada, and Mexico.

Business groups and the U.S.’s trading partners for the first time in a quarter century are pondering the landscape of a world where NAFTA no longer sets the standard.