In a surprise move that is sending shockwaves through the business world, the United States has blocked the renewal of the 16-year-old North American trade deal, known as the United States-Mexico-Canada Agreement (USMCA). The decision, which was made by the Biden administration, marks a significant shift in trade policy and has triggered a series of annual rolling reviews that will determine the fate of the agreement. The USMCA has been a cornerstone of trade relations between the three countries, facilitating the free flow of goods and services worth billions of dollars. As the reviews get underway, businesses and policymakers are bracing for a potential overhaul of the deal, which could have far-reaching consequences for industries ranging from agriculture to manufacturing.
US blocks 16-year North America trade deal renewal, triggering annual rolling reviews
