Trump signals no renewal of Canada-U.S.-Mexico trade deal

U.S. President Donald Trump says he's "not looking to renew" the Canada-U.S.-Mexico Agreement (CUSMA) — the trade deal that replaced NAFTA in 2020 and governs North American commerce.

"I'm not looking to renew it," Trump said Wednesday. "I made the deal and the primary reason I made the deal is that NAFTA was the worst trade deal I've ever seen. Yeah. And I made it better. But I had the right to terminate."

The U.S. has the ability to terminate the agreement, and Trump has suggested he's not inclined to extend it when it comes up for renewal. His reasoning centers on trade deficits: the U.S. runs deficits with both Canada and Mexico, and Trump argues the country doesn't need what either nation supplies.

"We don't need anything that Canada has, we don't need anything that Mexico has, but they need everything that we have, and they have to treat us better," he said. "We don't need their cars. We don't need their lumber. We don't need their energy. We don't need anything."

The statement signals potential turbulence ahead for cross-border commerce and raises questions about how Canadian exporters — from energy to agriculture to autos — will navigate trade relations under a Trump administration that appears skeptical of the current framework.

CUSMA uncertainty is now a real factor for Canadian business planning.