The U.S. won¡¯t renew its trade deal with Canada and Mexico, choosing instead to conduct annual reviews of the pact in a decision that risks adding uncertainty for companies producing goods across North America.
The U.S.-Mexico-Canada Agreement, or USMCA, will remain in force for another decade provided no one country decides to exit. Opting against a longer-term renewal opens the door to years of contentious negotiations over the rules governing continent-wide supply chains and low tariff levels vital for automakers, farmers, retailers and energy companies.
The Trump administration is ¡°not prepared to rubber stamp the agreement,¡± U.S. Trade Representative Jamieson Greer said in an interview. ¡°We think there are substantial issues.¡±
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