Before the Canada-United States-Mexico Agreement, also known as New NAFTA, CUSMA, or USMCA, is up for review in July 2026, Canada, Mexico, and the United States will all have federal elections. It is possible that two of the three countries will have the same leaders they currently have. But that is unlikely.
It’s also possible that July 2026 will come and all three countries will say, “Okay, don’t worry,” and the trade deal will continue as is. It’s certainly possible, but it’s very unlikely.
This does not mean that the USMCA will be completely renegotiated, but given the controversy the agreement has stirred in the past, some adjustment will likely be required. You can probably even guess which products are likely to get the most attention (hello dairy, hello auto industry!). The real question is who will be at the negotiating table.
What we want to know is, looking forward, when a new NAFTA is discussed, who do you think will negotiate the best deal for Canada?
