Sen. Catherine Cortez Masto, D-Nev., and Sen. Dave McCormick, R-Pa., introduced a bill last week to direct the Office of the U.S. Trade Representative to prioritize convincing Canada and Mexico to institute a foreign investment review board similar to the Committee on Foreign Investment in the United States, or CFIUS.
The Office of the U.S. Trade Representative is seeking views on how the USMCA is working, as the three participating countries begin a joint review of the pact in July 2026.
The president of Mexico has introduced a bill increasing tariffs on goods from countries with which it does not have a free trade agreement, including China. The measure would bring most tariffs to a rate of 35%, with some as high as 50%.
Canadian Prime Minister Mark Carney said that Canada is dropping its retaliatory tariffs on American exports -- except for those in steel, aluminum and autos -- as long as those U.S. goods qualify for USMCA.
The Canada Border Services Agency recently issued a list of compliance and verification “priorities” for imported goods to alert traders about where it’s focusing its inspection and enforcement efforts.
Treasury Secretary Scott Bessent, on Bloomberg Television on June 30, didn't predict how many deals would be announced with the 18 largest trading partners of the U.S. before July 9. However, he said that countries "are coming in with offers" that long-time staff negotiators "can't believe," because they're so good.
The U.S. has the power to force some manufacturing out of Canada and Mexico and have it locate in the U.S., so that those cars or other products avoid tariffs, a think-tank analyst said at a Washington International Trade Association event.
The 10% tariff on the first 100,000 autos exported annually from the U.K. will be "all-in," according to the Office of the U.S. Trade Representative. CBP couldn't clarify whether that would be done by removing most favored nation duties on U.K. autos and then applying a 10% tariff rate, or whether the additional tariff rate for in-quota autos would be 7.5%.
Canada this week published new guidance and other resources to help Canadian companies facing increased costs from “unjustified tariffs” imposed by the U.S., including a new webpage for understanding how businesses can secure tariff-free treatment for certain goods under USMCA. Canada said it’s “providing new and comprehensive information on rules of origin and customs procedures under” the trade deal, including a new webpage on understanding USMCA compliance, “self-serve resources for problem solving related to tariffs,” and a list of federal and provincial Canadian support programs available to businesses. The country also said small and medium-size companies can call the government’s new hotline on weekdays for information on USMCA.
Multiple countries this week objected to President Donald Trump’s April 2 announcement of new reciprocal tariffs against trading partners (see 2504020072), saying they either plan to retaliate or are assessing how to respond.