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[BUSINESS] · Canada, Mexico, United States · 13 sources

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Mark Carney and Claudia Sheinbaum advocate for USMCA renewal

Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum held a telephone conversation to advocate for the rapid renewal of the USMCA (T-MEC) trade agreement. Both leaders emphasized that a timely renewal is essential to provide legal and economic certainty for businesses and workers across North America.

The discussion occurred as Canadian Trade Minister Dominic LeBlanc and US Trade Representative Jamieson Greer continued bilateral negotiations in Washington. Reports indicate a potential preliminary agreement between Canada and the United States that would reduce certain tariffs. Specifically, US tariffs on Canadian-manufactured vehicles could drop from 25% to 15%, and duties on Canadian steel and aluminum could decrease from 50% to 25%, with a quota system applied to steel.

In exchange for these reductions, Washington is seeking concessions from Canada, including increased market access for American products and the removal of provincial restrictions on the sale of US alcoholic beverages. Additionally, Prime Minister Carney expressed gratitude to President Sheinbaum for Mexico's support during the summer, noting that over 400 Mexican firefighters and support personnel assisted in combating forest fires in Canada.

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Claudia Sheinbaum · Dominic LeBlanc · Jamieson Greer · Mark Carney · USMCA

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