Enacted with the bipartisan support of United States Congress in 1994, the North American Free Trade Agreement (NAFTA) has not been without its critics. In fact, the landmark free trade agreement between the United States, Canada, and Mexico has met virulent opposition from scores of United States citizens, who claim that NAFTA is a "bad deal" for the United States, with years of job losses and trade deficits to prove it.
Assume that in succumbing to the "will of the people," the President of the United States decides to "walk away" from NAFTA. He announces this, much to the surprise of the leaders of Canada and Mexico, at a hastily-convened summit in Cancun.
If the United States elects to terminate its involvement in NAFTA, would Canada and/or Mexico have any recourse against the United States? If so, what remedies would be available to the non-breaching countries? Is international law really relevant, especially if a country can unilaterally terminate its obligations under international law?