United States rejects current NAFTA renewal, seeks annual renegotiation

The United States has declined to renew the North American Free Trade Agreement (NAFTA), also known as ACEUM or USMCA, in its current form, according to the Trump administration. While Canada and Mexico had sought a 16-year ratification of the trade pact, U.S. Trade Representative Jamieson Greer stated that the United States did not accept the agreement's existing terms. Mexico is reportedly preparing for an annual renegotiation of the framework governing trade among the three North American partners. This decision signals a significant shift in the future of the regional trade arrangement.

Sources: Le Monde