With today's deadline for a new trade agreement between the U.S. and Canada fast approaching, Canadians are watching with bated breath as the future of North American cooperation, entire sectors of the Canadian economy, and the current Canadian government hangs in the balance.

ALSO READ: 9 Critical Things Canada Might Lose In The New Trump-Trudeau Trade Deal Today

Whatever the outcome of today's negotiations, all of Canada will be greatly affected.

Many had reported that Canadian officials had two options: either make huge concessions to Trump in order to make a deal, or abandon a new deal altogether to the detriment of the Canadian economy.

But appears such prospects were misguided. In a 'bombshell' release, The Star reports that Trump actually refuses to compromise at all with Canadian officials.

This puts the Canadian government in a very precarious situation and could jeopardize the Liberal party's majority in parliament.

If Trump truly intends to force Canada into a trade deal that serves only his interests, Canda's international reputation will also be tarnished.

The international community will likely view Canada as an economic puppet of the United States.

The repercussions of this scenario will be far reaching.

With provincial elections in Quebec just a month away, politicians, and especially sovereignists, will be able to claim that the federal government has neglected the province's interests.

Update: as of 4:00pm Friday, negotiations between the U.S. and Canada have fallen apart.

This will have huge economic and political consequences for Canada. If the U.S. Senate approves the current trade deal between the U.S. and Mexico, Canada will be completely left out of North American economic cooperation. NAFTA will be officially dead.

Trump has also called out the Canadian press for publishing comments he claims he made "off the record:

So it seems that, for now, Canada is without hope. It is unclear whether American officials will agree to more negotiating time. The Canadian government will have to come up with a strategy, and fast. 

This puts Trudeau especially in a precarious position ahead of the federa elections next year.

Stay tuned.

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