The summer deadline for the first mandatory review of the USMCA is approaching.
July 1 marks the day when the United States, Mexico and Canada are meant to agree on whether, or what, to change in the nearly 6-year-old trade deal that binds the three nations.
“We know the United States is not going to just clearly say, yes, let’s approve the agreement, it’s fine,” Council on Foreign Relations trade expert Inu Manak said.
That could lead to an extended period of negotiating the USMCA trade deal, which replaced NAFTA under the last Trump administration and keeps much of the goods that flow between the three countries tariff-free.
“What that means for business is a tremendous amount of uncertainty, and a continuation of the uncertainty that we saw since last year when there were the on-again, off-again tariffs,” Manak said.
Mexico is Arizona’s largest trading partner. Billions of dollars worth of goods like produce, cars and machinery cross the border each year.
Mexico’s economy secretary says conversations with U.S. trade officials will take place in Mexico this week.
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