USMCA Up for Debate in Mexico This Week

By Jim Wiesemeyer and Jenna Hoffman
July 6, 2023
Category: Business & Politics
Region: Canada, United States

This week’s talks in Cancun, Mexico between U.S. Trade Representative (USTR) Katherine Tai, Canadian Trade Minister Mary Ng, and Mexican Economy Minister Raquel Buenrostro will allow them to assess the state of the agreement and discuss a series of disputes. Issues include: U.S. and Canadian concerns about Mexican energy and biotech policies; U.S. concerns on Canadian dairy barriers; and Canadian objections to U.S. softwood lumber duties. Another issue is auto rules of origin regulations. …The USMCA has an expiration timeline of 16 years, with the opportunity for extension depending on the consensus of Canada, Mexico, and the U.S. The review process starts in year six (2026), where each country can express desire to extend or can raise issues to be addressed. In the latter case, annual reviews will continue until the issues are resolved or the agreement ends in year 16.

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