U.S. refuses to renew USMCA trade pact in current form, citing trade deficits
By
Abby Rogers
Summary
The United States, through U.S. Trade Representative Jamieson Greer, has announced it will not agree to renew the USMCA (U.S.-Mexico-Canada Agreement) in its current form, citing shortcomings and trade deficits with Canada and Mexico. The trade pact, which took effect on July 1, 2020, is slated to expire after 16 years. Mexico's Economy Minister Marcelo Ebrard confirmed the U.S. decision. The U.S. says it will continue engaging with both countries to address the agreement's issues.
Source
bskyU.S. refuses to renew USMCA trade pact in current form, citing trade deficitsaljazeera.comKey quotes
· 2 pulledThe United States did not agree to renew the USMCA in its current form.
As a result, the USMCA is not renewed. The United States will continue to engage with Mexico and Canada to address the Agreement's shortcomings and our trade deficits with these countries.
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