Overview
- President Trump told reporters on Wednesday, June 17 that he would “rather not have” the USMCA and said he might prefer the pact be terminated, comments that have injected fresh uncertainty into the July review process.
- Mexico’s economy secretary announced a trilateral virtual meeting with U.S. and Canadian officials on July 1 to begin the mandatory six‑year joint review and present each country’s position.
- Under the agreement’s rules a unanimous decision at the joint review is required to extend the pact for 16 years, failure to agree on July 1 would move the deal into annual rolling reviews, and any country may withdraw only after giving six months’ written notice.
- U.S. trade negotiators have opened talks with Mexico and proposed tougher rules of origin for autos and other goods while Canada has pushed publicly for a 16‑year renewal and sought relief from sectoral U.S. tariffs that are already hurting its industries.
- The pact governs roughly $2–2.7 trillion in annual North American trade and experts, industry groups, and members of Congress warn that prolonged talks or a weakened trilateral framework could disrupt auto, farm, steel, lumber, and energy supply chains and raise costs for businesses and workers.