Canada’s lead trade negotiator emphasized that the upcoming July 1 deadline for reviewing the North American trade agreement should not be seen as a rigid cutoff point, as certain trade issues may not be fully resolved by then. Janice Charette, speaking at a Canadian Chamber of Commerce summit in Ottawa, clarified that July 1 is more of a checkpoint than a final decision-making date. She highlighted that while efforts are being made to address various issues by that time, a comprehensive resolution is more important than a quick fix.
The Canada-U.S.-Mexico Agreement (CUSMA), negotiated during former U.S. President Donald Trump’s tenure, mandates a review this year. According to the agreement, July 1 marks the deadline for the three countries to either approve a renewal of the existing deal or indicate their intention to withdraw, with a potential exit process lasting up to 10 years.
Charette acknowledged that while progress is expected by July 1, there will likely be unresolved matters requiring attention beyond that date. Similarly, U.S. Trade Representative Jamieson Greer noted that not all trade issues would likely be resolved by the deadline, but efforts are underway to address many of them promptly.
Greer recently met with Mexican President Claudia Sheinbaum, with plans for an official bilateral negotiation round between the U.S. and Mexico in late May. Talks with Canada are ongoing, with an official negotiation start date pending until a fair deal seems achievable, according to Dominic LeBlanc, the minister overseeing Canada-U.S. trade.
Charette indicated that discussions with Greer suggest the U.S. will work on details separately with Canada and Mexico. She described the process as involving both bilateral and trilateral components, comparing it to adding a bilateral piece to the underlying CUSMA framework.
Meanwhile, on the same day, Prime Minister Mark Carney announced a new trade advisory council focused on Canada-U.S. trade, comprising experts, industry leaders, and former politicians. The committee aims to strategize on Canada’s economic relationship with the U.S., especially in light of existing U.S. tariffs on Canadian exports like steel, aluminum, and softwood lumber.
Greer has hinted that tariffs may remain a part of any future deal with Canada, a sentiment echoed by LeBlanc. The minister emphasized the need to address sectoral tariffs concurrently with the CUSMA review, stressing the importance of making significant progress on tariffs for advancing discussions on the overall trade agreement.