USMCA Could Face Annual Reviews, Canada Warns

Canada's minister for U.S. trade, Dominic LeBlanc, warned Thursday that the United States-Mexico-Canada Agreement could be subjected to annual reviews, saying uncertainty may be a deliberate objective of the Trump administration. Speaking to a business audience in Toronto, LeBlanc said net business investment in Canada is already down as a result of trade uncertainty, and that he will meet U.S. Trade Representative Jamieson Greer in Washington late next week ahead of the USMCA's mandatory July review. Trump negotiated with the USMCA in his first term and built in a 2026 review clause. Despite the tensions, LeBlanc said he is "not pessimistic," noting that Canada and Mexico retained tariff exemptions under the deal. Canadian Prime Minister Mark Carney has set a goal to double Canada's non U.S. exports within a decade.