WASHINGTON — On Wednesday, President Trump cast doubt on whether the United States-Mexico-Canada Agreement (USMCA) would be renewed.
The trade deal was signed during Trump’s first term, in 2018. Under the agreement, the three countries – the United States, Mexico, and Canada – must conduct a formal review by July 1, 2026 to determine whether to renew the trade deal.
“I don’t know that I’m going to renew it,” said President Trump from the White House on Wednesday. “We don’t need anything that Canada has, we don’t need anything that Mexico has, but they need everything that we have.”
The trade deal has found strong support from agricultural groups, including the American Soybean Association, Dairy Farmers of America and the Meat Institute, all members of the Agricultural Coalition for USMCA.
“USMCA has been the gold standard for agricultural trade agreements, providing the certainty farmers and ranchers need to plan, invest and stay competitive,” said American Soybean Association executive committee member and Minnesota soybean farmer Jamie Beyer. “At a time when farmers are facing significant financial pressure, maintaining strong trade relationships with Canada and Mexico is more important than ever for the long-term success of rural America.”
Canada and Mexico have both publicly stated they are ready to renew the USMCA. Trade officials from all countries are currently involved in negotiations.
“President Trump is a strong negotiator, and we are confident in his ability to reach a deal with Canada and Mexico that works for all three countries while meeting the needs of America’s farmers,” stated Bryan Goodman, spokesman for the Agricultural Coalition for USMCA.