In 2018 Canadian Prime Minister Justin Trudeau relied heavily on House Speaker Nancy Pelosi for assistance when the U.S. and Mexico constructed the majority of the USMCA trade pact. Today, Canadian Prime Minister Mark Carney takes the same approach.
PRESS RELEASE – “Today, the Prime Minister, Mark Carney, met with a bipartisan delegation of United States senators in Ottawa. The Senator for Oregon, Ron Wyden, the Senator for Alaska, Lisa Murkowski, the Senator for New Hampshire, Maggie Hassan, and the Senator for Nevada, Catherine Cortez Masto, were present.” (more)
The 35% tariffs against Canada are scheduled to go into effect on August 1st.
As noted by President Trump in his remarks during Prime Minister Mark Carney’s visit to the White House, Trump plans to renegotiate the USMCA and end the trilateral agreement in favor of two bilateral trade deals.
During the oval office meeting President Trump said, “as you know [USMCA] terminates fairly shortly. It gets renegotiated fairly shortly.” Then the biggest statement, “this was a transitional deal, and we’ll see what happens, we’re going to start renegotiating that”… “I don’t know if it serves a purpose anymore.” …. “And the biggest purpose it served was, we got rid of NAFTA.”
President Trump is going to exit the trilateral USMCA in favor of two distinctly different bilateral trade agreements between the U.S and Mexico; and the U.S and Canada. The only consideration now is the timing. President Trump is 100% focused on the BIG ECONOMIC PICTURE; it’s not about the politics, it’s all about the economics.