What to know about the looming deadline on North American free trade
One thing is certain: Canada, the US and Mexico all don't expect a decision to be made on Wednesday. A review of the USMCA pact
One thing is certain: Canada, the US and Mexico all don't expect a decision to be made on Wednesday. A review of the USMCA pact was always scheduled for this summer as part of the original agreement, but Trump's tariffs - and Canada's response to them - have complicated negotiations. Canadian officials are anticipating that talks with the US will continue past 1 July, and it's unclear for how long.
Mexico and the US have announced another round of formal bilateral talks for later in the month. In a statement to the BBC, the office of Canada-US trade minister Dominic LeBlanc said Wednesday's meeting will be "an opportunity to build on the positive, constructive bilateral discussions he has had with both countries in recent weeks". "He is looking forward to continuing the work of supporting Canadian workers, farmers and businesses, on July 1 and beyond." The current deal was negotiated during Trump's first term.
It replaced the North American Free Trade Agreement, which had been in place since the 1990s. It underpins nearly $1.6tn (£1.2tn) in annual trade between the three countries, has helped integrate key sectors such as North America's auto industry, and supports millions of jobs across the region. It has also offered Canada and Mexico a much-needed shield from the bulk of US tariffs thanks to a USMCA exemption by the Trump administration on most goods.
The pact has broad support in the US, with a late 2025 Ipsos survey by the Chicago Council on Global Affairs suggesting, external 75% of Americans believe it has been beneficial to the economy.
The BriefWire