Story perspectives

Canada, Mexico Boost Trade Ahead of USMCA Review

5/10/2026

36 8

Summary

Story summary

Prime Minister Mark Carney said Canada will deepen trade with the United States and Mexico as the United States-Mexico-Canada Agreement (USMCA) review, due July 1 2025, begins.
Mexico’s Secretary of Economy Marcelo Ebrard led a delegation of over 200 firms that held 1,800 B2B meetings in Toronto and Montreal.
Canada-Mexico trade reached $62 billion in 2025, with Mexican exports up 17 percent from 2024.
Carney said Canada will pursue new markets if deeper integration fails.

History

Historical Context

NAFTA entered force on January 1 1994, eliminating most tariffs among the United States, Canada and Mexico and spurring a trade bloc that grew to a $30-trillion economy. After President Trump’s 2018 renegotiation, the United States-Mexico-Canada Agreement took effect on July 1 2020 and includes a 2026 review provision, now cited as a basis for deeper assessment of North-American integration.

1 of 2

Story summary

Prime Minister Mark Carney said Canada will deepen trade with the United States and Mexico as the United States-Mexico-Canada Agreement (USMCA) review, due July 1 2025, begins.
Mexico’s Secretary of Economy Marcelo Ebrard led a delegation of over 200 firms that held 1,800 B2B meetings in Toronto and Montreal.
Canada-Mexico trade reached $62 billion in 2025, with Mexican exports up 17 percent from 2024.
Carney said Canada will pursue new markets if deeper integration fails.

1 / 2