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But Canadian officials, who note increasing political pressure on Trump from US business and labor circles to keep NAFTA as a trilateral arrangement, said they were in no hurry.

Brinly-Hardy, a US lawn-care equipment maker based in Indiana, said it has to lay off 75 employees this summer, saying that tariffs on Chinese imports could be the "nail in our coffin".

Business system reform has been prioritized over the past few years as the State Council, the country's Cabinet, strives to create a more welcoming environment for businesses, domestic and foreign, as well as private and State-owned enterprises. The issue has also been a priority for NPC deputies and CPPCC National Committee members, who put forward 560 suggestions and proposals to the administration last year, Tang said. All were handled on time.

Brexit decision to leave EU last year is unlikely to dampen M&A opportunities

Both sides watched the vote count closely to see how many members would break with their parties. One Democrat voted for the Republican bill, and in a surprise, two Republicans voted against it. Six Republicans broke ranks and voted for the Democrats' proposal.