Follow-up - INA
Washington announced that it will not renew the free trade agreement between Canada, the United States, and Mexico, which has expired, while affirming its intention to continue negotiations with its partners to reach a better agreement.
The agreement, concluded during Donald Trump's first presidential term, stipulated that it would be renewed by July 1st for a 16-year extension.
With the United States refusing to renew, the agreement is extended annually, subject to annual review, unless one of the member states formally withdraws.
Washington's announcement came after an online meeting of officials from the three capitals that failed to achieve the desired objectives.
Jamesson Greer, the White House trade envoy tasked with managing these negotiations, said, "The United States has not accepted the renewal of the agreement in its current form."
However, the White House "intends to continue exchanges with Mexico and Canada to address the shortcomings of the agreement and our trade deficit with both countries," according to Greer, who noted that "the agreement remains in effect until the problems are resolved or its implementation ends" after 10 years.
At the conclusion of the meeting, Mexican Economy Minister Marcelo Ebrard confirmed this but expressed his belief that an agreement could be reached quickly, as "there are no fundamental disagreements that cannot be resolved."
