The Secretary of Economy, Marcelo Ebrard, revealed that the President of the United States, Donald Trump, has taken measures to expedite the review of the trade treaty between Mexico, Canada, and the United States. In an interview, Ebrard explained that Trump issued an executive order covering all U.S. trade policy, including the review of the USMCA.
"From the treaty, there is already an executive order to advance the negotiation, well to expedite the negotiation and that is a good sign," Ebrard stated in an interview. Although it was expected that the renegotiation of the treaty would take place until next year, the Secretary of Economy mentioned that it would be beneficial for Mexico to renew the USMCA as soon as possible to avoid periods of market uncertainty.
In response to Trump's requests to review the trade agreement with the United States this year, Ebrard indicated that Mexico will comply with those requests and aims to start discussions on the USMCA "as soon as possible." According to Ebrard, Trump has requested a report and has instructed to initiate steps to evaluate the treaty.
Ebrard's statements come after The Wall Street Journal reported in January that Trump plans to renegotiate the USMCA before 2026, using the threat of tariffs on products from Canada and Mexico as a pressure tactic. The goal would be to modify the automotive rules agreed upon in the USMCA, forcing automotive plants to move from Canada and Mexico to the U.S.
The USMCA, which regulates about $2 trillion in trade between the U.S. and its neighbors, was approved by Congress with broad historical support. Since its implementation, Mexico and Canada have surpassed China as the top trading partners of the U.S. in terms of exports.
Trump is expected to invite Howard Lutnick, his nominee for Secretary of Commerce, and Jamieson Greer, chosen to be the U.S. Trade Representative, to discuss the renegotiation of the USMCA. The uncertainty now is whether the renegotiation of the agreement will actually take place before 2026.
