Mexico confident CUSMA will remain as Trump suggests it could expire
Global News
Mexico's Economy Minister Marcelo Ebrard insisted on Thursday that the CUSMA remains firmly intact and that the three countries will close a deal to extend it.
Amid persistent doubts over the future of the Canada-United States-Mexico trade agreement (CUSMA), Mexico’s Economy Minister Marcelo Ebrard insisted on Thursday that the agreement remains firmly intact and that the three countries will close a deal to extend it.
“We’re already in the treaty review phase, and we have to finish by July 1; that’s our deadline,” Ebrard said during Mexican President Claudia Sheinbaum’s daily morning press conference.
“We have made good progress on all the points that concern each of the parties.”
Ebrard’s comments were his first on the topic since U.S. President Donald Trump again cast doubt on the treaty’s future earlier this week.
“There’s no real advantage to it, it’s irrelevant,” Trump said on Tuesday, as he toured a Ford factory in Dearborn, Michigan.
The trilateral trade agreement, known as USMCA, replaced the North American Free Trade Agreement in 2020 and is a backbone of Mexico’s economy.
The treaty, which was negotiated during Trump’s first term, requires the three countries to hold a joint review this year to extend the pact.
If extended, the treaty will remain in place another 16 years. If not, it is subject to annual reviews.
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