LatinNews Daily - 01 July 2026

*Mexico’s Economy Minister Marcelo Ebrard has confirmed that a meeting will take place today (1 July) with US Trade Representative Jamieson Greer and Canada’s minister for US trade, Dominic Leblanc in relation to the review of the US-Mexico-Canada Agreement (USMCA). Ebrard explained that the three parties will discuss what comes next for the deal, with various potential scenarios. He said one is to agree to another review in six years with an extension of the treaty’s term for another 16 years, until 2042. If any of the parties refuses to agree to this extension, Ebrard said the alternative is to maintain the 10-year term of the deal, which is already in place until 2036, and conduct a review every year. “Many believe that the United States would prefer the second option, but I wouldn’t want to speculate,” said Ebrard. He clarified that, if this second path were taken, the three countries would review certain issues annually, but not the entire treaty, adding that Mexico has brought 13 issues with the deal to the table, and the US 14, while Canada is yet to present its own issues. During this 10-year period, countries can decide to extend the treaty for another 16 years. If no such extension has been agreed at the end of this 10-year period, the deal would expire. Ebrard, like Mexico’s President Claudia Sheinbaum, said he remains confident that the treaty will continue as planned, saying that “there would not have been formal discussions throughout the entire year”, if this were not the case.

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