Washington is expected to announce that it will not extend the US-Mexico-Canada free trade agreement, a decision that could upend one of the world’s largest trading blocs.
Mexico City and Ottawa have tried repeatedly to reach an agreement with Washington to prolong the deal, under which $2 trillion is traded annually, but US President Donald Trump said his country didn’t “need anything” its partners had to offer.
Though the process to unwind the USMCA — agreed to during Trump’s first term — could take several years, experts fear Washington’s decision could dissuade the types of multi-billion dollar investments the grouping has sought to attract. “Uncertainty makes it hard for businesses to plan,” an expert told Politico. “It’s that simple.”
