[US refuses to renew USMCA, begins 10-year phase-out]

Published: Jul 6, 2026 16:40

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The US announced it will not renew the United States-Mexico-Canada Agreement and will initiate a 10-year transition period to gradually phase out the trade pact. The decision follows a six-year review of the North American free trade framework, with the US seeking changes to bring more manufacturing jobs back and reduce trade deficits. Mexico's Economy Minister Marcelo Ebrard said Mexico hopes to address US concerns over employment and trade imbalances, but differences remain on stricter auto rules of origin. Canada's Dominic LeBlanc said Canada will continue discussions with the US on tariffs affecting steel, aluminum, automobiles, and lumber. All parties agreed continued dialogue remains important.

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