In a potential blow to the nation’s industrial sector, the U.S. is not expected to renew its trade agreement with Mexico and Canada that accounts for nearly $2 trillion in annual trade between the three countries, according to Reuters.
The United States-Mexico-Canada Agreement (USMCA) was negotiated by the U.S. and its two largest trading partners and signed by President Donald Trump in 2020 during his first administration. At the time, Trump praised the agreement as “the largest and most significant” trade agreement in history. It was scheduled to be renewed on July 1 for a 16-year period.
But Trump appears to have soured on the agreement and is expected to let it expire. Yardi Matrix writes in the June edition of its Industrial National R...