Canada and Mexico defended their trilateral trade agreement with the US following Washington’s threats to withdraw from the $2 trillion pact.
The world’s biggest economy is the main market for Canadian and Mexican exports, though Washington’s repeated criticism of the USMCA pact has pushed Ottawa and Mexico City to seek trade allies elsewhere. But experts say that, because their economies are so deeply integrated with the US’, a pivot will be difficult; Mexico’s share of exports to the US actually rose last year.
Canada and Mexico have sought to assuage Washington’s worries — including that they are becoming back doors for Chinese goods — amid a review of the pact, though Ottawa’s ambassador to the US admitted significant “headwinds” remain.
