The Office of the U.S. Trade Representative announced that the United States, Mexico and Canada held the required USMCA joint review on July 1 through a virtual meeting of the Free Trade Commission. U.S. officials said the United States did not agree to renew the agreement in its current form, meaning the USMCA was not renewed during the review. The agreement will remain in effect while the three countries continue discussions to address concerns raised by the United States, including trade deficits and other issues. U.S. officials also said a third round of bilateral negotiations with Mexico is scheduled for the week of July 20 as part of the joint review process.
