Mexico's ambassador to the United States is urging the three North American trading partners to complete their review of the U.S.-Mexico-Canada Agreement before the end of the year, saying a timely agreement is critical for economic certainty and regional competitiveness.
Ambassador Roberto Lazzeri said completing the review would provide greater confidence for farmers, businesses, and investors throughout North America. He emphasized that delays in the process reduce the region's ability to compete globally and cost market share.
The USMCA governs approximately $2 trillion in annual trade among the United States, Mexico, and Canada, making it one of the world's largest free trade agreements.
Earlier this month, the United States opted to conduct annual reviews of the agreement over the next 10 years rather than extending the pact for an additional 16 years. Under the agreement's current terms, the USMCA will remain in force through 2036 unless one of the three member countries chooses to withdraw.
Lazzeri's comments come ahead of a new round of U.S.-Mexico trade talks scheduled to begin Tuesday, July 21, in Mexico City. U.S. Trade Representative Jamieson Greer is expected to meet with Mexican President Claudia Sheinbaum as the two nations continue discussions on the future of the trade agreement.
Agricultural groups and businesses across North America are closely monitoring the negotiations, as the USMCA plays a key role in cross-border trade, supply chains, and market access for a wide range of products.