The USMCA trade pact won't be renewed as is after a key deadline passed, leaving U.S., Mexico and Canada trade relations in limbo.
The USMCA trade agreement will not be renewed in its current form after the White House let a key deadline pass this week, leaving the future of trade between the United States, Mexico and Canada unresolved even as the pact technically stays active.
At a Glance
- U.S. Trade Representative Jamieson Greer confirmed Wednesday that Washington would not renew the USMCA as written.
- The agreement remains in force for now, but is subject to termination if the three countries cannot reach new terms.
- Absent a new deal, the USMCA is set to expire automatically on July 1, 2036.
- Canada and Mexico together account for roughly a third of all U.S. exports.
- The pact has underpinned close to $2 trillion in annual trade among the three nations.
What Greer Said
In a statement issued on the deadline for renewal, Greer said the United States did not agree to extend the USMCA under its existing structure. He noted that the deal would continue operating