Continental trade pact set to stay in place as U.S. blows past key deadline
Canada and Mexico want a 16-year extension as the United States weighs concessions and the pact moves into an annual review process if no deal is reached.
- With a July 1 deadline looming, the BlueGreen Alliance demanded stronger pro-worker safeguards in any replacement USMCA pact, submitting a detailed analysis to United States Trade Representative Jamieson Greer.
- Negotiated during President Donald Trump's first term, the mandatory review process requires the three nations to indicate support for renewal by Wednesday, though all signs indicate the U.S. will bypass the deadline.
- BlueGreen demands higher minimum wages and stricter enforcement of labor and environmental laws, noting 20% of "made in Mexico" vehicle components were actually made in China.
- Failing to sign a long-term deal triggers an annual rolling review continuing for up to 10 years, unless a partner country provides six months' notice to withdraw, keeping CUSMA in effect.
- Scott Lincicome of the Washington-based Cato Institute noted that missing the deadline increases uncertainty, while Republican Rep. Adrian Smith called the pact a "huge victory" for American consumers.
31 Articles
31 Articles
Carney Says Don’t Expect ‘Drama’ as CUSMA Partners Meet July 1 for Review
Prime Minister Mark Carney says the July 1 review of the North American free trade deal should be uneventful as Canada, Mexico, and the United States hold a trilateral meeting. The meeting, a rare gathering of the three parties, will be held virtually, Carney said on June 30 while speaking to reporters in northern Quebec. “We’re expecting a constructive exchange. I wouldn’t expect any drama tomorrow,” said the prime minister. “I’m not looking fo…
castanet.net
The Lethbridge HeraldCarney doesn't expect 'drama' as U.S. prepares to blow past trade deal deadline
Prime Minister Mark Carney said Tuesday he doesn't expect any drama as officials from Canada, the United States and Mexico prepare for a virtual call Wednesday about the future of the critical continental trade agreement.
Winnipeg Free Press
Continental trade pact set to stay in place as U.S. blows past key deadline
WASHINGTON - A key date for a critical trade agreement will come and go this week as the United States under President Donald Trump continues to push for concessions from its closest neighbours.
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