Trump Admin Puts Signature Trade Pact On Ice

President Donald Trump’s administration opted against renewing the United States, Mexico, Canada Agreement (USMCA) on Wednesday, leaving the fate of the signature $2 trillion trade deal open-ended.

The agreement was first put in place in July 2020, which replaced the North American Free Trade Agreement (NAFTA). Although the administration initially championed the deal for renegotiating trade policy in favor of American manufacturing and consumers, Trade Ambassador Jamieson Greer announced they would not renew the agreement in its “current form.” (RELATED: How US Leaders’ Attempts To Dominate The World Are Weakening One Of Our Greatest Advantages)

“In accordance with the Agreement, the United States, Mexico, and Canada met virtually today to discuss the operation of the USMCA,” Greer said in a statement. “The United States did not agree to renew the USMCA in its current form. As a result, the USMCA is not renewed.”

“The United States will continue to engage with Mexico and Canada to address the Agreement’s shortcomings and our trade deficits with these countries,” Greer added. “However, the Agreement remains in force pending resolution of these issues or until the Agreement’s termination.”

The USMCA requires the deal to be reviewed every six years, making July 1 the renewal deadline. Although the deadline to renew the agreement for an additional 10 years has lapsed, the deal will tentatively remain in place until July 2036. (RELATED: Paul Krugman Suddenly Admits Tariffs May Be ‘Necessary’ After Years Of Globalist Dogma)

The United States is set to meet with Mexico’s trade delegation the week of July 20 for their third round of bilateral negotiations.

The administration notably imposed 25 percent tariffs on both Canada and Mexico last year as Trump sought to further improve America’s position in the trade deal.