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The United States and Canada are likely to conclude negotiations on a revised version of the North American Free Trade Agreement this weekend after a month of tumultuous discussions, according to a tweet from a Bloomberg News White House reporter.
The two countries are currently trying to avoid a fight that could compromise $ 500 billion in annual trade, according to the tweet.
At the end of August, the United States and Mexico negotiated a new deal to replace NAFTA, thus overthrowing Canada. President Trump has also repeatedly suggested that he could pull Canada out of the new deal – which would be called the "US-Mexico Trade Agreement".
If Canada does not sign a new agreement, Trump has threatened to impose high tariffs on all imports of motor vehicles.
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Canada is the second largest trading partner of the United States and Mexico the third largest.
According to the Wall Street Journal, the dispute between the United States and Canada is based on policies to protect agriculture and the media, as well as the installation of a system allowing all three countries to challenge tariffs imposed by the other.
Peter Navarro, director of the National Trade Council at the White House, said in an interview with Neil Cavuto of FOX Business that the current bilateral agreement with Mexico will be presented to Congress on Sunday at midnight.
"Time is running out in Canada," he said Saturday. "There are negotiations going on as we speak, we hope that they realize that it is a good deal for all three countries. But in the end, this president will not accept an agreement that is not good for this country. And that's where it's happening.
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