Trump says he may let US, Canada and Mexico trade agreement expire in 2036

President Donald Trump said Wednesday that he may let a critical free trade agreement between the United States, Canada and Mexico expire in ten years instead of agreeing to renew it next month. 

Trump implemented the United States-Mexico-Canada Agreement during his first term in 2020, which replaced the North American Free Trade Agreement. The deal is set to expire in 2036 if all three countries don't agree to renew it on July 1.

The president said he is "not looking" to renew the three-way agreement, highlighting it served its purpose of replacing NAFTA, which he described as the "worst trade deal I’ve ever seen," according to The Hill. 

“I don’t know that I’m going to redo it because, to be honest with you, we don’t need anything Canada has, we don’t need anything that Mexico has, but they need everything that we have, and they have to treat us better,” Trump told reporters. 

“With Mexico and Canada, we have trade deficits," he continued. "We should have surpluses with them. We don’t need their cars. We don’t need their lumber. We don’t need their energy. We don’t need anything." 

The comment comes as Canada implores the U.S. and Mexico to renew the deal. If the three countries do renew the agreement, it would be in effect for another 16 years but would be up for review in 2032.

If the U.S. or Mexico decline to renew the agreement then it will expire in 2036 and be subject to yearly reviews until then.

The next round of negotiations between the U.S. and Mexico surrounding the agreement is expected to take place in Washington next week on June 16 and ​17 with an emphasis on agriculture, according to Reuters.  

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.