Canada formally requests 16-year renewal of USMCA trade pact
Canada-US Trade Minister Dominic LeBlanc has written to his North American counterparts proposing the USMCA free trade pact be renewed for 16 years through 2042. The letter precedes the deal's mandatory six-year review in July.
BBC Latin AmericaOttawa has formally filed a request for a 16-year automatic renewal of the USMCA North American trade pact ahead of its scheduled six-year review. In his letter Canada-US Trade Minister Dominic LeBlanc wrote that 'all three countries benefit from a stable and predictable trade framework.' The deal currently expires in 2036.
US Trade Representative Jamieson Greer's initial response was measured: 'We will study the letter, but we want a comprehensive review, particularly on digital trade and rules of origin.' Mexico's Economy Minister Marcelo Ebrard said 'the proposal is a constructive starting point.'
C.D. Howe Institute analyst Trevor Tombe assessed the automatic-renewal request as 'a predictability signal for investors in both countries.' By contrast, Brookings' Joshua Meltzer said: 'Without resolving tensions on tariffs and rules of origin, the credibility of any renewal stays limited.' Formal review talks begin on 1 July. Procedural framing only.
More from South America
Venezuela's Delcy Rodríguez visits India for oil diversification talks
Venezuela's Vice President Delcy Rodríguez met India's Petroleum Minister Hardeep Singh Puri in New Delhi as part of Delhi's energy diversification push. The talks focused on a framework for a long-term crude supply agreement.
Lula thanks China for beef win and tells US after tariffs: I will sell to someone else
Brazilian President Luiz Inácio Lula da Silva said China has opened new purchase quotas for Brazilian beef and that Brazil is finding alternative markets in response to US tariffs. Lula said growth in the China market provides important compensation after additional US duties on Brazilian exports.
BlackRock's Atlas freezes $1 billion in Brazil renewables investments
Atlas, the infrastructure unit owned by BlackRock, has frozen renewable energy investments worth roughly $1 billion in Brazil. The decision comes amid uncertainty over the country's energy transition policies.