US, Canada, Mexico review trade pact, likely putting it into limbo

Trade chiefs from the U.S., Mexico and Canada are reviewing their countries' trade agreement on Wednesday, in an exercise expected to launch a decade-long sunset of the regional pact as they continue negotiations aimed at satisfying President Donald Trump's desire to shift more manufacturing to the U.S.



Trump's trade chief, Jamieson Greer, was meeting virtually with Mexican Economy Minister Marcelo Ebrard, and Dominic LeBlanc, Canada's minister responsible for Canada-U.S. trade, to declare whether they want to extend the U.S.-Mexico-Canada Agreement for another 16 years.



But Greer has already said more time is needed to fix problems with USMCA and has scheduled another negotiating round with Mexico for the week of July 20. He has not begun formal negotiations with Canada on USMCA revisions.



Mexican President Claudia Sheinbaum, who has called for USMCA's extension, said on Wednesday this could happen any time that the three countries reach agreement over the next decade.