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Globe says Algoma told Mexico will stick with CUSMA

2026-03-31 07:28 ET - In the News

See In the News (C-ASTL) Algoma Steel Group Inc

The Globe and Mail reports in its Tuesday edition that Canada-U.S. Trade Minister Dominic LeBlanc says he is confident Mexico will not leave the USMCA to sign a bilateral trade agreement with the United States. The Globe's Steven Chase writes that the U.S.-Mexico-Canada Agreement stipulates that all three countries are expected to meet this year and, by July 1, 2026, confirm in writing whether they plan to renew the pact -- which would extend the deal another 16 years. If all parties do not agree, a 10-year countdown begins to the deal's expiry, with annual reviews until 2036, and renewal remains possible. The signatories can also withdraw with six months notice. U.S. President Donald Trump's administration has signalled it wants to renegotiate parts of the deal. On Monday, Mr. LeBlanc said he thinks Mexico will stick together with Canada on the deal, which also goes by the name Canada-United States-Mexico Agreement, or CUSMA. "Are we concerned that Mexico may sign an agreement that would exclude Canada in terms of a trilateral trade agreement like CUSMA? The answer is no," Mr. LeBlanc told reporters. Apart from USMCA talks, Canada is working to resolve U.S. tariffs on steel, aluminum and autos.

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