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Report: Canada, Mexico to reject latest US demands on NAFTA

Top Canadian and Mexican trade negotiators will meet with U.S. Trade Representative Robert Lighthizer on Tuesday and reject the latest proposals made by the U.S. in the current round of talks aimed at renegotiating the North American Free Trade Agreement, CNBC reported.

However, Canada and Mexico will not abandon the negotiations despite their rejection of the U.S. demands, according to the report, which cited two people briefed on the countries' positions.

The latest round of talks is ending today with a meeting among Lighthizer, Canadian Foreign Minister Chrystia Freeland and Mexican Economy Minister Ildefonso Guajardo.

The U.S. had reportedly proposed, among other provisions, a "sunset clause" that would cause NAFTA to expire after five years unless Canada, Mexico and the U.S. agree it should continue.