US says it won't extend key trade deal with Canada and Mexico

The United States will not extend a key trade pact with Canada and Mexico, opting instead to let the existing agreement remain in force under annual review until its expiration. The decision, announced by the Office of the United States Trade Representative, came on the July 1 deadline for extending the United States-Mexico-Canada Agreement (USMCA) until 2042.

This move by the Trump administration means the USMCA, which replaced the 1994 North American Free Trade Agreement (NAFTA), will continue to be subject to annual reviews for the next 10 years. It will expire in 2036 unless a new agreement is negotiated and ratified by all three countries.

U.S. Trade Representative Jamieson Greer stated that the United States remains committed to working with Mexico and Canada. "The United States will continue to engage with Mexico and Canada to address the agreement's shortcomings and our trade deficits with these countries," Greer said in a statement. "However, the agreement remains in force pending resolution of these issues or until the agreement's termination."

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The United States will continue to engage with Mexico and Canada to address the agreement's shortcomings and our trade deficits with these countries. However, the agreement remains in force pending resolution of these issues or until the agreement's termination.