Canada, US, Mexico to Continue Annual Free Trade Review

Canada, the United States, and Mexico are continuing discussions on the future of free trade across North America in line with previous deadlines, Canadian Intergovernmental Affairs Minister Dominic LeBlanc said on Wednesday. The three countries met virtually on the same day to formally review the Canada-United States-Mexico Agreement (CUSMA). During the forum, the US stated its objection to extending the free trade deal. Nevertheless, the agreement will remain in force until at least 2036 while undergoing annual reviews. “We agreed on the importance of continuing our discussions and identifying ways to ensure the trade and investment framework between Canada, the United States, and Mexico continues to support North American prosperity and competitiveness,” LeBlanc said, as quoted by Global Affairs Canada. Ottawa will continue negotiations with Washington regarding sectoral levies on Canadian aluminium, automobiles, lumber, and steel, LeBlanc added, expressing his confidence that Canada is entering the talks from a position of strength. “We look forward to further cooperation with the United States and Mexico in the weeks and months ahead as we work together to strengthen shared economic prosperity,” LeBlanc continued. The trilateral trade agreement between Canada, Mexico, and the United States came into effect on 1 July 2020, replacing the North American Free Trade Agreement (NAFTA) which had been in force since 1994. The deal was negotiated by US President Donald Trump.