NAFTA is headed for a renegotiation. Changes could range from adjustments to the rules of origin for product content, and more-stringent labor standards, to the extreme of withdrawal and a return to World Trade Organization most-favored-nation tariffs. These shifts will have important implications for the supply chain and profitability of U.S.-based companies. However, there is a high level of uncertainty about the ultimate outcome and consequences for companies, in part because the effect could be offset or aggravated by how currency rates adjust.