U.S. declines to extend CUSMA trade deal with Canada, Mexico
Trump administration opts not to extend agreement, triggering fresh negotiations and uncertainty.
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U.S. President Donald Trump's administration is opting not to extend its trade agreement with Canada and Mexico, triggering what are expected to be tough negotiations on amending the deal.
The announcement by U.S. Trade Representative Jamieson Greer followed a virtual meeting on Wednesday, July 1, with Canada-U.S. Trade Minister Dominic LeBlanc and Mexico's economy secretary, Marcelo Ebrard.
Wednesday was the deadline set out in the text of CUSMA for each country to declare whether they want to extend it to 2042 or renegotiate its terms. The U.S. move does not kill the agreement, which does not expire until 2036.
The U.S. announcement was widely anticipated, though the Trump administration had not made it official until now. Mexico and Canada had previously stated they wanted CUSMA extended and were willing to discuss amendments.
Trump signed the agreement in his first term and hailed it at the time as historic. In recent weeks, he has frequently disparaged CUSMA but has stopped short of threatening to terminate it. Any country can withdraw from the deal with six months notice.
