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Ending NAFTA would harm the U.S. and Canadian economies and reduce their competitiveness versus Asia and Europe, according to a Monday report issued by the Bank of Montreal. The report, titled “The Day After NAFTA,” says failing to renegotiate the 23-year-old trade pact would lead to a 0.2 percent net reduction in real U.S. GDP over the next five years, and a 1 percent decrease for Canada’s economy. (Reuters)

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