'The USMCA is not renewed': Trump has cooled on the trade pact he negotiated [View all]

Source: Yahoo Finance

Today was the deadline for long-term renewal of the United States-Mexico-Canada Agreement (USMCA), the trade pact President Trump negotiated in his first term with the US's two top trading partners.

This time around, his administration says it will not renew the pact in its current form before more talks.

Representatives from all three countries meet virtually on Wednesday, with the US holding out and announcing plans to keep negotiating rather than re-up the agreement for another 16 years.

"The United States will continue to engage with Mexico and Canada to address the Agreement's shortcomings and our trade deficits with these countries," US Trade Representative Jamieson Greer said in a statement. "The United States did not agree to renew the USMCA in its current form. As a result, the USMCA is not renewed."

Read more: https://finance.yahoo.com/economy/policy/article/the-usmca-is-not-renewed-trump-has-cooled-on-the-trade-pact-he-negotiated-161345399.html