Trump refuses to renew US-Canada-Mexico trade pact he once championed

Trump and US officials opted to keep USMCA alive on short leash of annual reviews rather than longer term renewal Donald Trump has refused to renew the North American trade pact he once championed as his signature deal, opting instead to keep it alive on a short leash of annual reviews rather than committing to another 16 years. 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. After virtual talks between officials from all three governments, the US trade representative’s office confirmed that Washington had walked away from renewing the deal on its existing terms, pointing to persistent US trade deficits with both neighbors. The refusal does not kill the pact outright, however. USMCA stays in force while negotiations continue, but it will now face a review every year rather than once every six, as originally designed. A senior administration official, briefing reporters on a call announcing the decision, said Trump had “chose not to rubber stamp a USMCA renewal without addressing existing issues”. The official added: “So in other words, the United States did no