The U.S. won’t renew its trade deal with Canada and Mexico, choosing instead to conduct annual reviews of the pact in a decision that risks adding uncertainty for companies producing goods across North America.
The U.S.-Mexico-Canada Agreement, or USMCA, will remain in force for another decade provided no one country decides to exit. Opting against a longer-term renewal opens the door to years of contentious negotiations over the rules governing continent-wide supply chains and low tariff levels vital for automakers, farmers, retailers and energy companies.
The Trump administration is “not prepared to rubber stamp the agreement,” U.S. Trade Representative Jamieson Greer said in an interview. “We think there are substantial issues.”
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