U.S. Declines to Renew Trade Pact With Mexico And Canada. Here’s What It Means for Each Country
Six years ago, President Donald Trump stood at the White House and celebrated the U.S.-Mexico-Canada Agreement he signed as the “largest, fairest, most balanced, and modern trade agreement ever achieved.” On Wednesday, his Administration declined to renew the pact in its current form, opening a decade-long review process that threatens to inject fresh uncertainty into one of the world’s most deeply integrated economic relationships.
The decision, announced by U.S. Trade Representative Jamieson Greer, does not terminate the agreement that governs nearly $2 trillion in annual trade among the three countries. Goods will continue to move across borders largely as before, and negotiators are expected to keep working on revisions in the months ahead.
But the move marks a striking reversal for a President who once made the agreement a centerpiece of his economic agenda, and it raises new questions about the future of a trading bloc that supports millions of jobs and underpins industries ranging from automobiles to agriculture.
