President Trump has decided not to renew the United States-Mexico-Canada Agreement (USMCA), which he negotiated during his first term, U.S. Trade Representative Jamieson Greer announced Wednesday.
"We think there are substantial issues" with the pact, Greer told Bloomberg News in an interview. The decision means the USMCA will not be renewed, but it will not expire for at least another decade, well beyond Trump's current term in office. This action initiates an annual renegotiation process for the trade agreement that will span the next ten years.
The USMCA was negotiated and finalized in January 2020.