US EditionCanada warns USMCA could face annual reviews, fueling uncertainty and chilling investment
Canada warns that annual USMCA reviews and U.S. tariff actions are causing investment chill, with nearly 90% of Canadian exports exempt but key sectors affected, officials said.
- On Wednesday , U.S. Trade Representative Jamieson Greer said U.S. and Canadian officials will meet in Washington in the coming weeks, adding, `They have a few ideas on how they might want to have a deal with us. We're obviously open to that.`
- Amid recent months, the Trump administration is reviewing CUSMA, facing a July 1 deadline, with officials focused on reshoring production and concerned about China routing goods through Canada.
- Steel and aluminum tariffs stand at 50% under Section 232 of the Trade Expansion Act, while passenger vehicles, trucks and auto parts face a 25% tariff with CUSMA exemptions.
- Statistics Canada reported production shifts and partial shutdowns at Canadian auto plants, slowdowns in the Canadian wood sector, and market uncertainty dragged overall sales down to $641.1 billion.
- Greer told Bloomberg he would pursue separate bilateral talks over the coming year and suggested tacking on protocols to fix USMCA gaps, while reports said the administration may leave CUSMA.
38 Articles
38 Articles
North American trade agreement faces further uncertainty
The trilateral trade agreement between Canada, Mexico, and the US could require annual reviews if Washington refuses to sign an extension, risking huge trade upheaval, Ottawa warned. USMCA’s signatories must reconfirm the deal every six years, or it reverts to yearly checks. The first renewal falls in July, and Canada’s Minister for US Trade Dominic LeBlanc warned that the US may block it. President Donald Trump has repeatedly threatened to with…
Associated Press News
Canada warns USMCA could face annual reviews, fueling uncertainty and chilling investment
Canada’s minister for U.S. trade says the Canada-U.S.-Mexico Agreement could be subject to annual review and that uncertainty could be the objective of the Trump administration.
Winnipeg Free Press
LeBlanc sets up talks with U.S. trade rep next week in Washington
Breaking News, Sports, Manitoba, Canada
Canada must forget the idea that it will be able to escape the Trump administration's tariffs under any new agreement that would maintain the Canada-United States-Mexico Agreement (ACEUM), warned the U.S. Trade Representative, Jamieson Greer.
Trump Trade Rep Says Priority Is Re-shoring US Manufacturing Through Tariffs as USMCA Review Looms
A senior trade official from the Trump administration says Canada is unlikely to avoid tariffs as the United States pushes to rebuild its industrial base, even as both countries prepare to review their free trade agreement later this year. U.S Trade Representative Jamieson Greer said there could be discussions with Canada if it agrees to participate in the re-shoring efforts the U.S. administration is pursuing. Greer made the comments to CBC New…
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