FX.co ★ Trump unwilling to extend trade agreement with Canada and Mexico

US President Donald Trump cast doubt on extending the three‑party trade agreement with Canada and Mexico (USMCA), saying he is not committed to preserving the pact. The US leader argued that the United States is better off pursuing an independent economic policy and that the deal matters much more to its regional neighbors than to Washington.

The trilateral USMCA came into force on July 1, 2020, replacing the North American Free Trade Agreement (NAFTA), which had been in effect since 1994. The agreement stipulates measures to support the auto industry, expand US dairy access to the Canadian market, and includes provisions on environmental protection, labor rights, and intellectual property.

The pact provides for a mandatory joint review of its terms every six years, a process that is currently underway. However, the US administration has openly expressed dissatisfaction with the agreement in its current form and is considering the option of declining it. The White House is poised to renew the pact on the condition of independently setting import tariffs.