Trump has not outlined specific plans for revising NAFTA, but he has made repeated calls for a levy to discourage companies from moving jobs outside the United States. Last month, the White House floated a plan to impose a 20 percent tax on imports. Republican leaders in the U.S. House of Representatives have included a tax on imports in their blueprint for overhauling corporate taxes.

The ideas have met opposition in Congress, even inside Trump's own party. U.S. Senator Lindsey Graham, a republican from South Carolina, took to Twitter, saying "Simply put, any policy proposal which drives up costs of Corona, tequila, or margaritas is a big-time bad idea. Mucho Sad."

Trump's rhetoric has also heightened uncertainty over the billions in supply chain and infrastructure investment that a diverse array of companies from automakers and railroads to appliance makers and food producers have made on both side of the U.S.-Mexico border during the past two decades.

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