Trump Says He Won’t Renew Current Trade Agreement With Mexico, Canada

The official noted that the president “has already changed the nature of the U.S.-Canada-Mexico trading relationship.”

During an Oval Office session with reporters this week, Trump said that, if anything, the U.S. should be running a trade surplus with both countries, adding that neither fof them “have anything we need.”

U.S. trade data for 2025 show a goods trade deficit of $196.9 billion with Mexico and $46.4 billion with Canada. Combined trade in goods and services among the three USMCA partners totals nearly $2 trillion each year.