emirates7 - US President Donald Trump's administration is opting not to extend its trade agreement with Canada and Mexico, triggering what are expected to be tough negotiations on amending the deal, CBC News reported.
Wednesday was the deadline built into the United States-Mexico-Canada Agreement (USMCA) for the three countries to jointly decide its fate, which is set to expire in 2036.
The announcement by US Trade Representative Jamieson Greer followed a virtual meeting on Wednesday with Canada-US Trade Minister Dominic LeBlanc, and Mexico's Economy Secretary, Marcelo Ebrard.
"The United States will continue to engage with Mexico and Canada to address the agreement’s shortcomings and our trade deficits with these countries,'' said Greer in a statement.
In the six years since Canada-US-Mexico Agreement (CUSMA) took effect, replacing the North American Free Trade Agreement, the value of trade between the three countries has grown by 37 per cent, now exceeding $1.9 trillion US annually.
Wednesday was the deadline built into the United States-Mexico-Canada Agreement (USMCA) for the three countries to jointly decide its fate, which is set to expire in 2036.
The announcement by US Trade Representative Jamieson Greer followed a virtual meeting on Wednesday with Canada-US Trade Minister Dominic LeBlanc, and Mexico's Economy Secretary, Marcelo Ebrard.
"The United States will continue to engage with Mexico and Canada to address the agreement’s shortcomings and our trade deficits with these countries,'' said Greer in a statement.
In the six years since Canada-US-Mexico Agreement (CUSMA) took effect, replacing the North American Free Trade Agreement, the value of trade between the three countries has grown by 37 per cent, now exceeding $1.9 trillion US annually.
الرجاء الانتظار ...