US expected to exit USMCA, starting a decade-long countdown for trade pact

AI Summary

The US administration under President Donald Trump is expected to formally announce it will not extend the US-Mexico-Canada Agreement (USMCA), initiating a decade-long phase-out of the trade pact. This declaration triggers a six-year review period as the three countries continue to debate changes to the agreement.

US President Donald Trump’s administration is expected to formally declare on Wednesday that it will not extend the US-Mexico-Canada Agreement on trade, starting a decade-long clock to wind down the 32-year-old North American free-trade zone as the three countries haggle over proposed changes. That declaration will kick off a six-year review session, part of a “sunset clause” negotiated by Trump’s first administration. However, it will do little to alter contentious negotiations over the pact’s...