As per earlier reports,
- US official says that the US did not agree to renew USMCA in current form
- United States will continue to engage with Mexico and Canada to address agreements shortcomings and heartrate deficits with these countries.
- Agreement remains “in force” pending resolution of these issues or until agreements termination
- USTR will continue to consult with Congress, public on changes to USMCA
- Trump has already changed US MCA under new tariffs and trade policies, but it is possible to improve situation with negotiations.
- We don’t have an interest in dragging issues with USMCA out for 10 years.
- Could see having separate trading protocols with Canada and Mexico during the remainder of Trump’s term
- July 20 negotiations with Mexico will continue to discuss rules of origin, economic security.
- We need North American tighter rules of origin for orders and for other industrial goods
Meanwhile Mexico’s economic minister Ebrard says:
- USTR Greer says US wants to review USMCA annually for the next 10 years
- Mexican official to meet with US trader representative on July 20
Canada Minister Leblanc adds:
- Agreed-on importance of continuing our discussions and identifying ways to ensure trade and investment frameworks between Canada, United States and Mexico.
This article was written by Greg Michalowski at investinglive.com.
SOURCE LINK : USDMCA: US did not agree to renew USMCA in current form.
