Six years ago, President Donald Trump hailed his US-Mexico-Canada Agreement, or USMCA, as the “fairest, most balanced, and beneficial trade agreement we have ever signed.” Now, as the pact is up for review, Trump says he’s ready to abandon it.
“I’m not looking to renew it,” Trump said last month. “We don’t need anything that Canada has. We don’t need anything that Mexico has, but they need everything that we have. They have to treat us better.”
The USMCA, which replaced the North American Free Trade Agreement, facilitates roughly $2 trillion in annual trade among the three neighboring countries. All three countries are required to review the agreement every six years, and decide whether to renew it or make modifications.
0:00 White House announces it won’t renew USMCA
0:17 Trump Oval Office statement
1:01 Audie Cornish’s “Group Chat”
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