Canada's United States Trade Representative remains hopeful that Canada and the U.S. can reach a compromise over country-of-origin labeling legislation. Member of Parliament James Bezan had a chance to meet with Ambassador Ron Kirk last week.

"There shouldn't be any reason why we can't sit down at the table, as neighbours, allies and friends, and come to a compromise position," said Bezan, pointing to the fact they've been able to settle differences on softwood lumber and Buy American policies.

"His interest lies in trying to find a compromise. However, Agriculture Secretary Vilsack has the lead on this file and that will be the greatest difficulty in resolving this issue quickly."

Kirk indicated that the U.S. won't back down when it comes to the WTO case surrounding COOL. Both Canada and Mexico argue the U.S. is violating its trade agreements with the legislation. WTO panel hearings regarding COOL are set to begin at the end of August.

Since coming into effect in September of 2008, COOL has devastated the Canadian livestock industry as American packers have discounted animals born in Canada.

COOL has also reduced productivity and competitiveness in the U.S. meat industry. The American Meat Institute is on the record for saying first year costs for the legislation include "$299 million for the pork industry and $1.25 billion  for the beef industry."