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The United States has a great deal to lose if it drops out of NAFTA, as 26% of imports come from the two partner nations. Canada and Mexico are its second and third largest trading partners, respectively. Here's a look at the industries that will be hit hardest if President Trump sends a NAFTA withdrawal notice.

Expand chart
Data: U.S. Census Bureau; Chart: Andrew Witherspoon / Axios

Where things stand: The future of NAFTA hangs in the balance, with Mexico and Canada shutting down the hard line American renegotiations and President Trump hinting he might pull out of the deal entirely. Still, Mexican President Enrique Peña Nieto said Wednesday the other two countries will stay in NAFTA even if the United States abandons it.

Key takeaways:

  • The auto and energy industries will be among those most affected, as vehicles, nuclear reactors and mineral fuel are three of the top goods imported from both Canada and Mexico.
  • The United States stands to lose lots of business. Canada and Mexico are the top two recipients of U.S. exports.
  • In 2016, the United States had a $12.5 billion trade surplus with Canada, but a $55.6 billion trade deficit with Mexico.
  • Peña Nieto said that, if Trump backs out, trade between the United States and Mexico will continue and be governed by the World Trade Organization's rules.

Go deeper: What each nation wants from renegotiations; What the U.S. trades with other world powers

Go deeper

Dave Lawler, author of World
2 hours ago - World

Venezuela's predictable elections herald an uncertain future

The watchful eyes of Hugo Chávez on an election poster in Caracas. Photo: Cristian Hernandez/AFP via Getty

Venezuelans will go to the polls on Sunday, Nicolás Maduro will complete his takeover of the last opposition-held body, and much of the world will refuse to recognize the results.

The big picture: The U.S. and dozens of other countries have backed an opposition boycott of the National Assembly elections on the grounds that — given Maduro's tactics (like tying jobs and welfare benefits to voting), track record, and control of the National Electoral Council — they will be neither free nor fair.

Biden plans to ask public to wear masks for first 100 days in office

Joe Biden. Photo: Mark Makela/Gettu Images

President-elect Joe Biden told CNN on Thursday that he plans to ask the American public to wear face masks for the first 100 days of his presidency.

The big picture: Biden also stated he has asked NIAID director Anthony Fauci to stay on in his current role, serve as a chief medical adviser and be part of his COVID-19 response team when he takes office early next year.