Mexico and Canada: "Stronger USMCA... Efforts to Strengthen Partnership with the U.S."

Prime Minister Carney: "We Hope the USMCA Becomes a Fairer Agreement"

Canada and Mexico have once again emphasized the necessity of the United States-Mexico-Canada Agreement (USMCA).

Mark Carney, Prime Minister of Canada (left), and Claudia Sheinbaum, President of Mexico. Photo by Reuters Yonhap News

On September 18 (local time), President Claudia Sheinbaum of Mexico and Prime Minister Mark Carney of Canada held a summit in Mexico City and announced that they had agreed to work together to enhance North American industrial competitiveness based on the USMCA.

President Sheinbaum stated, "Mexico and Canada have agreed to maintain a stronger USMCA," adding, "Both countries will continue their cooperative relationship based on mutual respect."

Prime Minister Carney also said, "Canada and Mexico are working to strengthen our partnership with the United States. We hope that the USMCA will become a fairer and more effective agreement," emphasizing, "To that end, we can seek ways to adjust the details of the trade agreement." He continued, "President Sheinbaum and I are committed to the agreement (USMCA) that has contributed to making the North American economy the envy of others," and assessed, "The recent formal initiation of the USMCA consultation process by the U.S. government is a positive step."

The USMCA was signed during the first term of the Donald Trump administration in 2018 and took effect in July 2020. It replaced the 1994 North American Free Trade Agreement (NAFTA), and its core principle is the duty-free export and import of goods among the three North American countries.

The USMCA has a 16-year validity period, with a review of its implementation required every six years. However, it is known that the Trump administration is considering withdrawal at the first scheduled review in 2026. As a result, Mexico and Canada, which regard the USMCA as the foundation of their national trade policies, are striving to maintain the status quo with the United States, arguing that "it is already impossible to separate the North American supply chain by country." Nevertheless, the U.S. government has imposed a 50% tariff on steel and aluminum from Canada and Mexico, and an additional 25% tariff on certain automobiles and parts, claiming that "sufficient measures have not been taken to block the influx of drugs such as fentanyl."

This content was produced with the assistance of AI translation services.