The United States will not renew the USMCA trade agreement with Mexico and Canada in its current form, according to a statement issued July 1 by US trade representative Jamieson Greer. The pact, which governs nearly $1.6 trillion in annual trade among the three countries, stays in force while the sides keep negotiating.
Key Takeaways
- Greer said the US did not agree to renew the USMCA as currently written.
- The agreement remains active for up to ten more years unless terminated, per Canadian officials.
- US and Mexican negotiators plan a third round of bilateral talks on July 20.
- Trump has pointed to trade imbalances with Canada and Mexico as a sticking point.
- Canada wants sectoral tariffs on steel, aluminum, autos and lumber addressed in the talks.
What Greer's Statement Actually Changes
Greer's announcement does not tear up the USMCA. It simply confirms Washington will not sign off on renewing the deal in its present form. The agreement, he said, continues to operate