Trump Says US Won’t Renew USMCA, Signaling Yearly Reviews (1)

President Donald Trump said he would not reauthorize the US’s trade deal with Canada and Mexico, setting the stage for months or years of negotiations over provisions governing automobiles and other key industries.

The countries are facing a July 1 milestone to extend the pact, which Trump negotiated during his first term, as is for 16 years. Such an extension wasn’t expected, with the US president escalating trade tensions with the nation’s neighbors since returning to office. Without an extension, the deal will enter rolling annual reviews but remain in force for up to a decade, barring one country exiting ...