Trump says he's 'not looking to renew' U.S. trade deal with Canada and Mexico

President Donald Trump declared he is not seeking to renew the United States-Mexico-Canada Agreement (USMCA), a trade pact with Canada and Mexico. Speaking to reporters, Trump indicated his desire to move away from the existing deal, which, without a commitment by July 1, is subject to annual reviews and could potentially expire in 2036.

Trump, who originally negotiated the USMCA to replace a previous North American trade agreement, voiced his displeasure with its outcomes. He highlighted the trade deficits the U.S. holds with its northern and southern neighbors. "We should have surpluses with them," Trump stated, adding, "We don't need their cars. We don't need their lumber. We don't need their energy. We don't need anything that they have."

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I'm not looking to renew it

The president's remarks suggest a potential shift in U.S. trade policy regarding its key North American partners. The USMCA, intended to modernize trade relations, now faces uncertainty under Trump's stated intention not to renew it.

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You know, with Mexico and Canada, we have trade deficits. We should have surpluses with them. We don't need their cars. We don't need their lumber. We don't need their energy. We don't need anything that they have.