Securities Regulation Daily Wrap Up, VITAL BRIEFING—The USMCA is dead! Long live the USMCA, (Jul 10, 2026)
The U.S. has indicated that it will not renew its trade pact with Mexico and Canada, thereby triggering a decade-long countdown period leading to the termination of the agreement, although any party can withdraw from the accord after providing a six-month notice.
In this installment of Tariff Insights, Thomas Thompson examines the topsy history and current status of the free trade Agreement between the United States of America, the United Mexican States, and Canada (USMCA). He also considers potential trade scenarios for these North American nations going forward. Some of the matters Thompson explores in the article include:
Comments from U.S. Trade Representative Jamison Greer noting shortcomings in the agreement, as well as unacceptable ongoing trade deficits with U.S. trading partners.
Disruptions in the trade relationship, including the U.S. imposing a 25 percent tariff on all goods imported from Canada and Mexico, later raised to 35 percent, resulting from the Trump administration’s view that both countries had been lax in combatting cross-border fentanyl trafficking.
U.S plans to likely engage with Mexico and Canada in separate bilateral negotiations to address ongoing trade deficits, as well as other issues. While trade discussions with Mexico are scheduled for later in July, no talks with Canada have been announced.
To read the piece, click on The USMCA is dead! Long live the USMCA.
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