US Declines to Renew North American Free Trade Agreement with Canada and Mexico

The White House trade representative, Jameson Greer, declared that the United States will not renew the North American Free Trade Agreement (NAFTA) with Canada and Mexico, which has expired. He emphasized the country's intention to continue negotiations in pursuit of a better agreement.

The original agreement, established during President Donald Trump's first term, included a provision for renewal within a maximum period ending on July 1, extending its validity by 16 years.

Despite the US refusal to extend the agreement, it has been renewed annually and subjected to yearly reviews unless a party formally announces its withdrawal.

The announcement from Washington followed an online meeting involving officials from the three capitals, which did not achieve the desired outcomes.

Jameson Greer, responsible for managing these negotiations, stated that "the United States did not accept renewing the agreement in its current form."

However, the White House plans to continue discussions with Mexico and Canada to address the agreement's shortcomings and the US trade deficit with both countries, according to Greer. He added that "the agreement remains in effect until the issues are resolved or until its ten-year application period ends."

In June, the US president announced he did not intend to renew the agreement as it stands. Subsequently, Washington initiated a series of bilateral negotiations with Mexico and Ottawa.

A new round of talks between the United States and Mexico is scheduled for July 20, while the date for the next session with Canada has not yet been determined.