28h 27h

US Declines Automatic Extension of USMCA, Will Pursue Annual Revisions and Talks

The US declines to confirm an automatic extension of the US-Mexico-Canada Agreement, leaving the pact subject to annual reviews and scheduled talks, including a July 20 bilateral with Mexico.The Office of the United States Trade Representative says the US will pursue revisions to address trade deficits and structural shortcomings in USMCA while Mexico and Canada keep the treaty in force through 2036.The decision follows US tariffs on Canadian imports earlier this year and risks deterring multibillion-dollar investments by increasing regulatory uncertainty across auto, agriculture and energy sectors.
Tags
Read more
Discuss