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USMCA Trade Deal Worth $2 Trillion Fails Extension by July 1 Deadline

GateNews
According to CNBC, the United States-Mexico-Canada Agreement (USMCA) is not expected to be extended by Wednesday, July 1, triggering an annual review process instead of a potential 16-year extension. The trade deal, which governs roughly $2 trillion annually in goods and services between the three countries, will now enter a review cycle that could stretch years if no deal is reached by 2036. The automotive industry, representing about 18% of America's trade with Mexico and Canada, is bracing for increased uncertainty. The Trump administration is pushing to strengthen North American rules of origin by increasing regional value content requirements from the current 75% to 82%, with 50% of that value produced in the U.S., aimed at boosting domestic manufacturing and reducing supply chain dependency on China.
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