This audio is auto-generated. Please let us know if you have feedback.
The decision by North America’s three largest economies not to immediately extend the United States-Mexico-Canada Agreement last week has generally garnered support across industries, although groups are still adamant that the pact should remain in place in the long run.
The United States, Mexico, and Canada did not immediately extend the trilateral free trade agreement for another 16 years on July 1, a deadline for all three countries to reconvene to discuss the future of the pact. By not extending the agreement last week, the countries are instead opting to launch an annual review process.
Multiple trade groups have cited the critical role the USMCA plays for North America manufacturing and retail supply chains, calling for the countries to resolve outstanding issues and strengthen the deal through future negotiations before extending it.
Below are excerpts from statements from several organizations in response to the decision to delay the USMCA extension.
