The US, Canada, and Mexico are facing a 1 July deadline to decide the future of the USMCA, a crucial North American free trade agreement. Despite the looming date, it seems unlikely that a resolution will be reached in time. Trade representatives from the three countries are meeting for the first time since the review of the USMCA began, with Canada and Mexico expressing a desire to renew the deal. However, the US has not yet clarified its stance, with former President Donald Trump suggesting the deal should expire. The USMCA, which replaced the North American Free Trade Agreement, supports significant trade and jobs across the region and has broad support in the US. Negotiations have been complicated by tariffs and separate talks between the US and each country. While Mexico and the US have held multiple discussions, Canada appears to be lagging, though Canadian officials remain optimistic about ongoing talks.
QUESTION: How might the uncertainty surrounding the USMCA impact businesses and workers in North America?
What to know about the looming deadline on North American free trade
