US Refuses to Renew USMCA Trade Deal

The Trump administration officially announced it will not renew the United States-Mexico-Canada Agreement, opting for annual reviews instead.

The widely-expected decision throws the landmark trade pact into uncertainty and sets the stage for protracted negotiations.

The US argued that the agreement needs changes to reshore manufacturing jobs and reduce trade deficits with its North American neighbors.

Canada and Mexico expressed concern, with some analysts warning the move could be a tactic to divide and conquer the two US partners.