According to previous reports,
- A US official says the United States has not agreed to renew the USMCA in its current form
- The United States will continue to work with Mexico and Canada to address shortcomings in the agreements and severe deficits with these countries.
- The Agreement shall remain “in effect” until such issues are resolved or the Agreements are terminated
- USTR will continue to consult with Congress and the public on changes to the United States-Mexico-Canada Agreement (USMCA).
- Trump has already changed the US MCA under new tariffs and trade policies, but the situation could be improved through negotiations.
- We have no interest in delaying cases with the USMCA for 10 years.
- We could see separate trade protocols with Canada and Mexico during the remainder of Trump’s term
- Negotiations will continue July 20 with Mexico to discuss rules of origin and economic security.
- We need stricter rules of origin in North America for orders and other industrial goods
Meanwhile, Mexican Economy Minister Ebrard says:
- US Trade Representative Greer says the US wants to review the USMCA annually for the next 10 years
- A Mexican official meets with the US Trade Representative on July 20
This article was written by Greg Michalowski at Investinglive.com.
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