The USMCA review began on July 1 as Washington declined to extend the pact, starting a decade-long clock that hangs over Mexico, the peso and autos.

The US has triggered a decade-long process to potentially exit the USMCA trade agreement, with a critical joint review set for July 2026.

While the agreement may survive at the end of negotiations, years of uncertainty, tariffs, and prolonged talks could reshape North American trade.