Just days before Canada and Mexico would've been allowed to enforce retaliatory tariffs, it looks like a trade war on Country Of Origin Labelling may have been side-stepped with the U.S. congress drafting a bill that would repeal the mandatory meat labeling laws.

It's reported this legislation comes after marathon negotiations between Republican and Democratic leaders, and should pass a vote in the coming days.

Earlier this month, the World Trade Organization (WTO) approved Canada and Mexico to impose $1 billion in tariffs on American products such as wine and frozen orange juice in retaliation for damages caused by COOL.

Canadian Cattlemen's Association President Dave Solverson said last week they didn't want this dispute to come down to tariffs, hoping the threat of tariffs would be enough to put pressure on the U.S. to repeal COOL.