No CUSMA resolution expected by renewal deadline: Carney

Prime Minister Mark Carney said he does not expect a resolution Wednesday while talks continue to renew the Canada-U.S.-Mexico Trade Agreement (CUSMA).

Negotiated under the first Trump administration, CUSMA replaced the longstanding North American Free Trade Agreement.

Representatives of Canada, Mexico and the U.S. are set to meet virtually to discuss CUSMA and all indications are the Trump administration will not sign on for a 16-year extension.

Polling for the New North America Initiative by Ipsos Public Affairs and Nanos Research reports that while Canada is seen as a major economic challenge by only 8 per cent of Americans, 77 per cent of Canadians view the U.S. as one.

Carlo Dade, director of international policy and the New North America Initiative at the University of Calgary’s School of Public Policy, said the missed deadline holds little weight for CUSMA’s future as long as productive discussions continue.

“I think the market is adjusting to a new normal of uncertainty with the U.S.,” Dade said in an email. “That said, awareness of the reality also means greater awareness of the cost.”

Wednesday is the deadline for all three partners in the trade pact to indicate whether they want the deal renewed.

With Files From The Canadian Press

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