President Donald Trump said he may not renew the USMCA trade agreement, which governs some $2 trillion in annual trade between the US, Canada, and Mexico. "I don't know that I'm going to renew it," he stated, according to reports. Both Canada and Mexico have signaled openness to further concessions to preserve the deal.
President Donald Trump has threatened not to renew the US-Mexico-Canada Agreement (USMCA) when it comes up for review after six years. The USMCA, which Trump himself negotiated in 2018 during his first term, covers roughly $2 trillion in trilateral trade and was considered one of his signature legislative achievements. In a reported statement, Trump said: "USMCA did one thing that I loved. After six years, it comes up for renewal. I don't know that I'm going to renew it." The US imports about 4 million barrels of crude oil daily from Canada, roughly 20% of domestic consumption, giving the threat material economic weight. Both Canada and Mexico — heavily reliant on the US export market — have signaled openness to further concessions to keep the deal in place. The statement comes amid a broader Trump trade posture that has already seen tariffs and renegotiation threats against multiple partners.
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