Canada seeks USMCA renewal for 16 years, sector tariff discussions
Summary
Canada has proposed renewing the trade agreement with the US and Mexico, called USMCA, for 16 years and wants to discuss specific tariffs before upcoming meetings with US trade officials. Canada’s trade minister, Dominic LeBlanc, will meet with US Trade Representative Jamieson Greer to review the agreement and address tariffs on steel, aluminum, and cars that affect Canada’s economy.Key Facts
- Canada wrote a letter to the US and Mexico recommending a 16-year renewal of the USMCA trade agreement.
- Canada wants to hold talks on specific tariffs, like those on steel, aluminum, and cars.
- Canada’s trade minister, Dominic LeBlanc, will meet US Trade Representative Jamieson Greer, joined by chief negotiator Janice Charette.
- Canada was not included in earlier trade talks between the US and Mexico last week.
- Businesses have criticized Canada for starting the USMCA review process slowly compared to Mexico.
- The US and Mexico have already held talks about updating the USMCA, including rules about car parts ("rules of origin") and economic security.
- The US wants Canada to accept some tariffs and make changes to allow more US business access, such as in dairy products.
- If the countries do not agree to extend the deal, it will move to annual reviews until 2036.
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