Canada and Mexico Meet Regarding USCMA
Tariffs this, tariffs that. In the latest episode of the trade war saga, our nation’s two closest allies are teaming up.
Details
On September 18th, Canada Prime Minister Mark Carney and Mexican President Claudia Sheinbaum met in Mexico City to discuss plans regarding review of the currently standing USMCA agreement next year.
You might remember in what seems like an eternity ago, long before COVID, Donald Trump said that the North American Free Trade Agreement was “the worst trade deal in history.” It was replaced by the USMCA in the middle of 2020.
Now, Trump is in the Oval Office for a second time, and his talk about the t-word has the other two leaders of North America a bit apprehensive.
At the same time, however, Carney stated that he is hoping for a bit of a peaceful resolution between the three countries. “North America is the economic envy of the world,” he said. “Part of the reason for that is the cooperation between Canada and Mexico, both of us and the United States. We complement the United States. We make them stronger. We are all stronger together.”
Conclusion
So what is there to make out of all this in regards to the trucking industry? Well, Carney hopes for a peaceful resolution, but Goldy Hyder, president and CEO of the Business Council of Canada, is hoping the two countries can work together to potentially get the upper hand on the US of A.
“Strategically, both Mexico and Canada need to realize that we better both be in the room together. OK, maybe I take a loss on something, and you take a loss on something else, but maybe we cut our losses in half,” Hyder said in a statement.
Regardless of whether our northern and southern neighbors take an olive branch approach or not during the upcoming six-year review, the USMCA is currently in effect until 2036. We will have to wait and see what happens: if temperatures raise or lower between now and the time of review. If anything of major importance happens when that day comes, you can count on us to tell you about it.
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