Core Viewpoint - The Trump administration is considering scrapping the USMCA and negotiating a new trade agreement, despite industry groups advocating for its renewal for another 16 years [2][3]. Group 1: USMCA Review and Industry Response - Major industry groups, including the American Apparel & Footwear Association (AAFA), National Grain and Feed Association (NGFA), and National Taxpayers Union (NTU), are urging the federal government to maintain the USMCA's duty-free market access and existing rules of origin [5][6]. - The USMCA is set for its first six-year joint review in 2026, having replaced the North American Free Trade Agreement in 2020 [4]. - AAFA emphasizes that the USMCA is crucial for the textile, apparel, and footwear supply chain across the U.S., Mexico, and Canada, providing clear rules and incentives that support jobs and investments [6]. Group 2: Economic Integration and Supply Chain - The USMCA has become a cornerstone of North American economic integration, according to various trade and business organizations [4]. - The NGFA highlights the importance of Mexico and Canada as key export markets for U.S. agricultural products, advocating for a full renewal of the agreement without changes to its core terms [6].
Borderlands Mexico: Trump mulls scrapping USMCA as industry groups push for renewal
Yahoo Finance·2025-12-07 12:00