{"id":15055,"date":"2025-11-18T20:32:14","date_gmt":"2025-11-18T20:32:14","guid":{"rendered":"https:\/\/www.americanconference.com\/fcpa-dc\/?page_id=15055"},"modified":"2025-11-18T20:32:14","modified_gmt":"2025-11-18T20:32:14","slug":"usmca-joint-review-an-analysis-of-the-high-stakes-trade-talks","status":"publish","type":"page","link":"https:\/\/www.americanconference.com\/fcpa-dc\/aci-insights\/usmca-joint-review-an-analysis-of-the-high-stakes-trade-talks\/","title":{"rendered":"USMCA Joint Review: An Analysis of the High-Stakes Trade Talks"},"content":{"rendered":"
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By Jaclyn Jaeger<\/p>\r\n

Tuesday, November 18, 2025<\/p>\r\n<\/div>\r\n\r\n

The wheels officially are in motion to begin the upcoming July 2026 \u201cjoint review\u201d of the United States-Mexico-Canada Agreement (USMCA), as the public consultation process kicks off in all three countries, with stakes as high as the border tensions that flow.<\/p>\r\n\r\n

The USMCA (or \u201cCUSMA\u201d as it is called in Canada) entered into force in July 2020, replacing the North American Free Trade Agreement (NAFTA) that had been in force since January 1994. Article 34.7 mandates that the USMCA parties review the agreement every six years, which will be in July 2026. At that stage, the agreement may be amended.<\/p>\r\n\r\n

As part of that six-year review, if all parties agree, the terms of the USMCA\/CUSMA will extend for another 16 years, with the next six-year review to occur in 2032. If any party does not wish to extend the Agreement, however, a joint review will be held annually for the remainder of the term of the agreement. Another possible outcome are bilateral arrangements in the event that one or more countries withdraw.<\/p>\r\n\r\n

Currently, the Office of the U.S. Trade Representative (USTR) is accepting written comments on the USMCA\u2019s operation, implementation, and any potential compliance issues the agreement creates. USTR will hold a public hearing Nov. 17, followed by an opportunity to submit post-hearing rebuttal comments, due seven days after the last day of the public hearing.<\/p>\r\n\r\n

The government of Mexico and the government of Canada opened their public consultation processes as well. As with the United States, Canada\u2019s government is accepting written comments through Nov. 3. Mexico\u2019s public comment period closes Nov. 16.<\/p>\r\n\r\n

High stakes<\/h5>\r\n\r\n

How USMCA\/CUSMA talks play out with Canada and Mexico are critical, as these countries are the United States\u2019 biggest trading partners. In 2024, two-way trade on goods totaled an estimated $935.1 billion with Mexico, and an estimated $909.1 billion with Canada, according to the USTR.<\/p>\r\n\r\n

The most heavily impacted goods include vehicles, electrical machinery, machinery, energy products, medical devices, plastics, and a wide variety of agricultural products \u2013 fruits, vegetables, dairy, cotton, livestock products, and more.<\/p>\r\n\r\n

For in-house counsel and compliance officers in industries and within companies whose operations rely on cross-border trade with Canada and Mexico, the public consultation process is a critical time to provide insight on:<\/p>\r\n\r\n