According to one trade expert at a recent Brookings Institution event, the USMCA renegotiation process will likely take years and extend past the Trump administration. Visiting Fellow Christopher Sands told the crowd at the event that the required six-year review of the 2020 USMCA is about to shift into an annual review process.
He says that process will continue for each additional year. The USMCA relies heavily on agriculture with $149 billion in U.S. farm and seafood exports to Canada and Mexico that support nearly half a million jobs.
Despite farm exports to Canada quadrupling and a five times increase of farm exports to Mexico since NAFTA, Sands sees no resolution to the review for possibly years.
Sands says that U.S. Trade Ambassador Jamieson Greer should explain his plans to Congress in early June.
