MEXICO CITY: Canada and Mexico intend to use next year’s review of their free trade agreement with the United States to make it fairer and more effective.
Canadian Prime Minister Mark Carney announced this shared objective following his meeting with Mexican President Claudia Sheinbaum in Mexico City.
Carney stated that both leaders remain committed to the agreement which has helped make North America the economic envy of the world.
Sheinbaum expressed optimism about the future of the United States-Mexico-Canada Agreement despite US President Donald Trump’s desire to renegotiate terms more favorable to American manufacturers.
The trade deal has been operational since 2020 and faces its scheduled review next year.
This agreement remains critically important to both Mexican and Canadian economies due to their substantial export relationships with the United States.
Mexico sends approximately 80% of its exports to the United States while Canada directs about 75% of its exports southward.
President Trump has already imposed tariffs on certain Canadian and Mexican exports not covered by the agreement.
The US president has threatened additional punitive measures if both countries fail to adequately address cross-border migration and drug trafficking issues.
Carney emphasized during a joint press conference that no country can isolate itself in an interdependent world.
He concluded that the USMCA represents strength through unity among all three North American nations. – AFP