He told reporters during a Cabinet meeting on Monday that they are fairly close to a solution and if they don’t reach the right deal they’ll terminate NAFTA and try again in the future.

Mexican Economy Minister Ildefonso Guajardo said in an interview with Televisa, the country’s largest broadcaster, that he sees an 80 percent chance of an agreement by the first week of May. After signing the preliminary documents, they will have 30 days to officially sign the revised NAFTA.