The US declined to renew a trade deal with Canada and Mexico. Though the treaty will remain in effect for ten years (as long as no country tries to leave it), the US-Mexico-Canada Agreement (USMCA) will now be subject to annual reviews, after a deadline passed yesterday with the US not opting for a longer-term renewal. This could lead to renegotiations of major parts of the USMCA, which President Trump signed during his first term. The decision adds new uncertainty for businesses that move goods across the busy borders, including many in the auto, farming, retail, and energy industries.
