US, Canada, Mexico begin bumpy negotiations to renew North American trade pact

Negotiations to renew the U.S.-Mexico-Canada Agreement (USMCA) began on Wednesday. This was reported by Qazaqyia.kz citing Associated Press.

The United States trades $1.9 trillion a year – $5 billion a day – worth of goods and services with its neighbors, Canada and Mexico. They have supplanted China as America’s top two trading partners.

The regional trade pact, negotiated during President Donald Trump's first term, is up for renewal. The process is likely to last months, maybe longer. Diego Marroquín Bitar, a fellow at the Center for Strategic and International Studies, said, "There’s going to be a lot of drama this summer."

After a year of President Trump's chaotic tariff policies, many U.S., Canadian and Mexican businesses would welcome the return of stability across North America. However, the path forward is lined with landmines.