The USMCA (United States-Mexico-Canada Agreement) is scheduled for a formal joint review in 2026, six years after its implementation in 2020. The review will assess the agreement's effectiveness, consider recommendations from the three countries, and decide whether to extend the agreement for another 16 years or allow it to expire in 2036. If renewal is not agreed upon, annual reviews will begin, potentially lasting up to 10 years, after which the agreement may expire. The review process is seen as a critical moment for North American trade, with potential impacts on regional cohesion, supply chain integration, and competitiveness amid global economic challenges. The U.S., Mexico, and Canada are currently engaging in public consultations to inform their positions ahead of the review. Key issues likely to be discussed include dispute settlement mechanisms, rules of origin, and trade enforcement. The review could lead either to a strengthened USMCA with modernization or to greater uncertainty in North American trade relations. This summary is based on recent analyses and official consultation processes underway in 2025 in preparation for the 2026 USMCA review.

Would a more detailed explanation of specific aspects of the review process or potential renegotiation topics be helpful?