By declining to extend the pact, the administration is setting up years of annual reviews.

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.

Officials from the US, Mexico, and Canada will meet on Wednesday to review the trade agreement after Trump said he does not want to extend.

Donald Trump is trampling over agreements with the U.S.’s closest neighbors and allies.