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

The trade pact remains in force, allowing businesses to continue operating under its existing duty-free provisions and rules, although the move to annual reviews introduces additional uncertainty about the agreement’s long-term future.

The review process allows negotiations to continue while the USMCA remains in force through 2036 unless the three countries agree to extend the agreement for another 16 years or one of the parties withdraws, said reports.

The United States and Mexico are scheduled to hold a third round of negotiations during the week of July 20 in Mexico City.