The three countries are on track to miss the July 1 deadline to extend the trade pact for 16 years, triggering ongoing annual reviews.
The United States, Mexico and Canada are close to missing the July 1 deadline to renew the T-MEC. Without an extension agreement, the treaty would remain in force at least until 2036 with annual reviews. United States Trade Representative Jamieson Greer stated that the pact would not be renewed directly on July 1 and that separate negotiations would take place. The United States and Mexico have scheduled a third round of talks for mid-July. Canadian minister Dominic LeBlanc downplayed the deadline and said care should be taken not to create a cliff where none exists. Bilateral talks address issues such as automotive tariffs and a possible 50 percent United States content requirement for vehicles. The agreement covers an annual exchange of nearly 2 trillion dollars in goods and services among the three nations.
