U.S. refusal to renew North America’s trade pact at its mandatory six-year review pushes CUSMA into a decade of annual check-ups – and leaves the tariff shield covering most Canadian exports riding on negotiations Ottawa has not yet formally begun. By the Canada Trade Desk | Peacock Tariff Consulting OTTAWA – July 3, 2026 –…
An analysis of the benefits and costs of the agreement entering annual review, written July 1, 2026 Executive Summary On July 1, 2026 – the sixth anniversary of the Canada-United States-Mexico Agreement’s entry into force – the mandated joint review under Article 34.7 concluded without the unanimous confirmation required to extend the agreement for a…
An analysis of the benefits and costs of the agreement entering annual review, written from the perspective of Canada’s agriculture and agri-food portfolio – July 1, 2026 Executive Summary On July 1, 2026 – the sixth anniversary of the Canada-United States-Mexico Agreement’s entry into force – the mandated joint review under Article 34.7 concluded without…
An analysis of the benefits and costs of the agreement entering annual review, from the perspective of binational manufacturers operating plants in both Canada and the United States – July 1, 2026 Executive Summary On July 1, 2026, the joint review mandated by Article 34.7 of the Canada-United States-Mexico Agreement concluded without the unanimous confirmation…

On June 10, President Trump told reporters he is “not looking to renew” the Canada-U.S.-Mexico Agreement, three weeks before the pending July 1 review deadline. The statement dominated headlines at this week’s Canada-U.S summit in Toronto, where Prime Minister Carney and U.S. Ambassador Hoekstra were both pressed on what comes next. But Trump’s comments don’t…

On May 4, 2026, Canadian Pacific Kansas City (CPKC) and CSX flipped the switch on a fully dedicated Southeast Mexico Express (SMX) intermodal train, a single-line, premium service connecting the U.S. Southeast directly with Texas and Mexico. The launch caps eighteen months of joint work that began in December 2024, when the two Class I…
Executive Overview: Preferential Treatment Requires Continuous Substantiation USMCA preferential duty treatment, while valuable for importers qualified to claim it, is not automatic and not assured once claimed. US Customs and Border Protection actively verifies USMCA eligibility claims through request-for-information procedures and entry denials when documentation is inadequate. Importers frequently lose preferential tariff benefits despite believing…

The Fraying of North American Trade Relations As Canada sends a senior trade official to Washington for discussions with the U.S. Trade Representative, the underlying message is clear: the United States-Mexico-Canada Agreement (USMCA), which serves as the foundation for North American trade, is under unprecedented strain. While the agreement remains formally intact and technically the…