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

All throughout NAFTA talks, the issue of supply management in the Canadian dairy industry has been a sticking point.

"A lot is hanging on these talks and what they can accomplish and I think the market right now is basically taking a wait-and-see approach", he said in an interview. "We need a dispute resolution mechanism like Chapter 19 and we will hold firm on that".

"Congress should not interfere with these negotiations or I will simply terminate NAFTA entirely & we will be far better off".

Perhaps most critically, the idea was to anchor a problematic Mexico to its two democratic neighbors to the north, the United States and Canada, and build a prosperous and stable political and economic community.

Trump repeats his charge that Canada maintains "tremendous trade barriers".

"It's a big risk for Mr. Trudeau and for the country's economy", she told AFP.

The grueling talks are aimed at getting to join a tentative U.S. -Mexico agreement to replace the 24-year-old NAFTA.

Data released on Wednesday by Statistics Canada showed Canada's trade surplus with the United States hit C$5.3 billion ($4.0 billion) in July, the largest since October 2008.

Trump abruptly canceled an outing on Monday, a federal holiday in the USA, "to make calls specifically on trade and other worldwide issues", White House Press Secretary Sarah Huckabee Sanders said in an email.

The bank noted the strength of the USA economy, a factor of huge significance to Canada, which sends 75 percent of its goods exports to the United States.

The last main obstacle to a trilateral deal is a dispute resolution mechanism from the 1994 pact that Canada insists on keeping and the United States wants nixed.

"We are making good progress". Under NAFTA's Chapter 19, any of the three trading partners can complain to an independent panel of experts about another country's anti-dumping or anti-subsidy duties.

Last week, U.S. President Donald Trump announced he had reached a bilateral trade agreement with Mexico that would replace the three-country NAFTA.

Trump almost tore up the NAFTA pact past year after visiting farmers in Wisconsin, a major US producer of dairy products that Washington says has been hurt by Canadian protectionism.

Lighthizer also said American broadcasters operating in border states have complained about Canadian counterparts picking up the US signals and redistributing in Canada without consent. The Canadian dollar briefly slipped against its USA rival in response to the decision, before bouncing back.

Trump has threatened repeatedly to leave Canada on the sidelines and proceed with Mexico, which reached a deal with Washington last week and could sign NAFTA 2.0 as soon as November 30.

The talks to remake NAFTA resumed after hitting an impasse last week over 's high dairy tariffs and US moves to eliminate a dispute resolution system known as Chapter 19 that potentially favors Ottawa.

After four days of intense negotiations last week, the two teams failed to strike a deal before 's Friday deadline. Dawson said Canada has also looked at other policy instruments to protect Canadian cultural industries, such as the deal Ottawa did with Netflix to develop Canadian content.

Could dairy market access be the "bargaining chip" Canada needs to lock in new NAFTA deal?