USMCA trade deal review meeting set for July 1

Canadian, Mexican, and U.S. officials are scheduled to hold their first trilateral meeting to review the North American trade agreement on July 1. The meeting, confirmed by Canadian officials and announced by Mexico's Economy Secretary Marcelo Ebrard, will involve each country presenting its position on the future of the Canada-U.S.-Mexico Agreement (CUSMA).

This gathering is significant as July 1 marks the deadline for the parties to signal their intention to extend the agreement, which is set to expire in 2036, or to initiate an annual rolling review process. Both Canada and Mexico have indicated a desire to extend the deal for another 16 years.

The review process occurs amidst comments from U.S. President Donald Trump, who has previously expressed a lack of enthusiasm for CUSMA and suggested he would prefer it to be terminated. Prime Minister Mark Carney acknowledged Trump's stance, noting it is "no secret" that the U.S. president has not been a strong supporter of the trade pact.

The U.S. has formally begun its review by publishing a notice in the Federal Register for public consultations and a hearing. Mexico has also released a request for public comments, and Canada has started accepting them.