US initiates decade-long countdown to exit USMCA trade agreement
The move would start annual reviews and could leave the North American trade pact set to expire in 2036 if no revisions are reached.
- On Wednesday, President Donald Trump's administration is expected to formally declare it will not extend the USMCA, triggering a 10-year sunset clause and initiating annual reviews for the trade pact.
- President Trump soured on the USMCA as the United States goods trade deficit with Mexico expanded, prompting him to favor steep tariffs on autos, steel, and aluminum over renewing the agreement.
- Trade Representative Jamieson Greer demanded that North American-built vehicles contain 50% United States-specific content, a requirement driving regional content to 82% to qualify for benefits and reduce reliance on Asian parts.
- While Trade Representative Jamieson Greer holds discussions with Canadian counterpart Dominic LeBlanc, formal negotiating rounds are proceeding only with Mexico, leaving Canada to the side for now.
- "We expect July 1st to come and go, and for the United States to not confirm its wish to extend," said Greta Peisch, a former USTR general counsel, as failure to reach revisions keeps the pact in indefinite limbo until 2036.
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US Moves to End USMCA Extension, Triggering Uncertain Future for North American Trade Pact
The United States is set to take a major step toward reshaping trade across North America by formally declaring that it will not extend the U.S.-Mexico-Canada Agreement (USMCA), a move that will begin a 10-year countdown toward the agreement's possible expiration in 2036 unless all three countries negotiate a new deal.
The government of the President of the United States, Donald Trump, must formally declare on Wednesday that it does not intend to extend the United States-Mexico-Canada Agreement (USMCA). The movement will start a ten-year countdown for the closure of the US Free Trade Area, which has been in force for 32 years, while the three countries negotiate proposed changes to the treaty. The American declaration will also initiate the six-year review pro…
Trump expected to exit USMCA trade pact with Canada, Mexico
The Trump administration is expected to formally announce Wednesday that it will not renew the U.S.-Mexico-Canada trade pact, kicking off a decade-long process to end the North American free trade zone and an agreement President Trump implemented during his first term.
US declaration to exit USMCA to start a decade-long countdown for the pact
U.S. President Donald Trump's administration is expected to formally declare on Wednesday that it will not extend the U.S.-Mexico-Canada Agreement on trade, starting a decade-long clock to wind down the 32-year-old North American free trade zone as the three countries haggle over proposed changes.
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