USTR says US did not agree to renew USMCA in its current form and US will continue to engage with Mexico and Canada to address agreement's shortcomings and our trade deficits with these countries
Iran's Deputy Foreign Minister says a communication channel to be established to report and discuss breaches of Iran-US MoU, IRNA reports; Pakistan and Qatar pushed for a "temporary understanding" before returning to Tehran and Washington
Mexican Economy Minister Ebrard says USTR's Greer says US wants to review USMCA annually for the next 10 years; will meet again with USTR on USMCA on July 20th
USTR says US did not agree to renew USMCA in its current form and US will continue to engage with Mexico and Canada to address agreement's shortcomings and our trade deficits with these countries
US and Iranian negotiators have resumed talks in Doha, focusing on the management of the Strait of Hormuz and the terms of a 60-day MoU aimed at a comprehensive nuclear deal, reports Axios' Ravid
Israeli drone strikes Al-Dir in Southern Lebanon, reports Tasnim
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- Agreement remains in force pending resolution of these issues or until agreement's termination.
- Trump has already changed USMCA under new tariff and trade policies, but it is possible to improve situation with negotiations.
- Could see having separate trade protocols with Canada and Mexico during the remainder of Trump's term.
- Need North American tighter rules of origin for autos and for other industrial goods.
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