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President Donald Trump said he would rather the United States not be a part of the Canada-U.S.-Mexico trilateral trade pact, but sent mixed signals about an upcoming renewal deadline and stopped short of threatening outright to quit.
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“I’m thinking about maybe we won’t be able to make a deal. I would rather not have the CUSMA. The primary reason I wanted it was because there was no way out of NAFTA, which was the worst trade agreement ever made,” Trump told reporters in Paris, where he’s due to join French President Emmanuel Macron for dinner at the Palace of Versailles following the Group of Seven summit.
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“I’d rather leave it unsigned, I’d rather have it terminated,” Trump added. “I would rather rather not have the agreement, but I may sign it.”
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The CUSMA agreement is up for renewal by July 1, though the U.S. has ruled that out. Barring renewal, it enters rolling review for 10 years before expiring if not renewed.
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The comments altogether signal Trump remains open to, but skeptical of, potential renewal of the trade pact for a new 16-year term.
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The president has frequently suggested both Canada and Mexico need trade pacts with the U.S. more than the U.S. does with them, and sought to use that disparity as leverage for more favourable trade terms.
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Trump’s responses conflated the July 1 milestone — the pact remaining in effect with rolling review — with termination, which would require a party to exit. Trump has mused privately about quitting but has not publicly threatened to do so, nor given the required six months’ notice.
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“I would prefer not having an agreement, but I’m open to doing it, we’ll see what happens,” he said. “I view it as possibly expiring immediately.”
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The U.S. is negotiating on a bilateral basis. Talks with Mexico are ongoing, including sessions this week, while formal talks with Canada have not been launched.
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