Canada's U.S. ambassador says CUSMA review will not end trade pact
Canada's ambassador to the United States told a Toronto audience that the July 1 start of the CUSMA renewal window will not terminate the agreement. The pact remains in force through 2036 regardless of when any review concludes.
Canada's ambassador to the United States told a business audience in Toronto on Monday that the upcoming CUSMA review period does not threaten the existing trade agreement. "Everybody take a deep breath, relax, it's all going to be OK," Mark Wiseman said during an interview at the Canadian Club Toronto. The event was moderated by Darryl White, chief executive of the Bank of Montreal.
Renewal timeline CUSMA enters a renewal window on July 1.
That date begins a review process rather than an expiration. The three countries may extend the pact for another 16 years, pushing its end date from 2036 to 2042. If no renewal is reached, the agreement shifts to annual rolling reviews that can continue for up to 10 years. Wiseman said the timing of any review does not affect the pact's legal status.
Tariff coverage and disputes Most Canadian exports to the United States remain exempt from new tariffs because they meet CUSMA rules. Steel, aluminum and auto shipments are still subject to duties imposed under Section 232 of the U.S. Trade Expansion Act.
Canada-U.S. Trade Minister Dominic LeBlanc said last week that Ottawa expects to negotiate separate bilateral agreements alongside CUSMA. Those side deals could resolve outstanding issues and support an extension. Talks between the United States and Mexico have already begun.
LeBlanc is scheduled to meet U.S. Trade Representative Jamieson Greer again this week on the sidelines of the G7 summit in France. " He noted that disputes over softwood lumber and dairy remain unresolved but said both countries have an interest in settling them.
