Mexico Awaits USMCA Review Commencement Amid Bilateral Talks

Mexico anticipates a review of the USMCA with the U.S. and Canada to begin in early Q4, as stated by Economy Minister Marcelo Ebrard. Meanwhile, Canadian PM Mark Carney seeks to resolve bilateral issues with the U.S. first. The USMCA requires a six-year review among the three nations.

Mexico is poised for a review of the USMCA, involving trilateral relations with the U.S. and Canada, as revealed by Economy Minister Marcelo Ebrard on Tuesday. This review is scheduled to commence in the early stages of the fourth quarter this year.

Canadian Prime Minister Mark Carney has expressed a cautious approach, emphasizing the need to address bilateral issues with the United States prior to entering talks concerning the USMCA. The agreement, which superseded NAFTA in 2020 and was negotiated during President Donald Trump's tenure, mandates a collective review every six years.

Mexico's Economy Minister Ebrard indicated that the formal start of this review is expected between the end of September and the first week of October. Discussions between Canadian and U.S. officials continue, aimed at lifting tariffs and tackling fentanyl smuggling issues. President Trump has previously advocated for early renegotiations of the agreement, seeking favorable trade terms for the U.S.

(With inputs from agencies.)