US won’t renew USMCA trade pact as Greer targets Canada’s China ties
The United States confirmed on Wednesday it would not renew its North American trade pact, its trade chief blaming Canada’s pursuit of Chinese investment.
“The United States did not agree to renew the USMCA in its current form. As a result, the USMCA is not renewed,” Greer said in a statement.
The refusal did not tear up the pact, which stays in force while the three governments begin annual reviews that could run until it expires in 2036.
A renewal on Wednesday would have reset that clock to 2042 and spared businesses a decade of recurring uncertainty.
The agreement replaced the North American Free Trade Agreement in 2020 and covers a market worth about US$1.8 trillion a year. It supports an estimated 17 million jobs and allows parts and products to cross the three borders without tariffs.