Former U.S. President Donald Trump has announced plans to renegotiate the United States-Mexico-Canada free trade agreement (USMCA) if he wins the U.S. presidential election in November.
“Upon taking office, I will formally notify Mexico and Canada of my intention to invoke the six-year renegotiation provisions of the USMCA that I put in,” Trump announced in a speech at the Detroit Economic Club on Oct. 10.
USMCA, which came into effect in 2020 as a replacement for the North American Free Trade Agreement (NAFTA), is up for review in 2026. The three countries will confirm whether they will extend the deal or re-negotiate it….