Trump Administration Rejects USMCA Renewal, Pursues Separate Canada and Mexico Deals
President Donald Trump announced that the United States will not renew the United States-Mexico-Canada Agreement and will instead negotiate separate bilateral trade accords with Canada and Mexico, Fox Business reported. The administration also said it will replace the multilateral pact with annual reviews that could lead to renegotiations, CNBC noted. The annual review mechanism would allow the United States to assess the agreement each year, officials said. Fox Business added that the bilateral talks aim to address persistent trade deficits and improve market access for U. S.
producers. U. S. officials indicated the separate deals are intended to give Washington greater leverage in negotiating terms with each neighbor.
Actors
United States
President Donald Trump
Katherine Tai
Mexico
Canada
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