WASHINGTON — A major benchmark is coming up for the Canada-U.S.-Mexico Agreement on trade, known in Canada as CUSMA. July 1 is the deadline for the three countries to either formally extend the agreement for 16 years or continue under annual reviews. …What happens if there is no extension on July 1? The trade pact will remain in place even if the United States doesn’t agree to extend CUSMA on July 1. Peisch said CUSMA will continue for another 10 years before “automatically terminating if the parties can’t come to agreement on extension.” In the near term, Peisch said, the countries will continue to negotiate possible changes to the agreement that could lead to an extension. …Can a country leave CUSMA? If the United States does not agree to the extension on July 1, the trade agreement stays in place unless one of the countries gives six months’ notice that it is pulling out of CUSMA. 

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