U.S. Trade Representative Jamieson Greer announced June 30 that the United States will not renew the USMCA (U.S.-Mexico-Canada) trade deal, which went into effect July 1, 2020 crafted under the Trump Administration as a six-year pact, subject to extension this month, or reversion to annual review for 10 years, then ended, if not renewed. “Review” is a euphemism for destructive hassles, all the while transnational commodity and financial networks continue to dominate what gets produced and traded, when and where, in North America.
The USMCA is the last iteration of the very bad tri-nation, continental trade deal NAFTA—North American Free Trade Agreement, which went into effect in 1994. From industrial to agri-food to oil to other basic sectors, the economies of the three major North American nations, and neighbors, have been integrated and warped by the so-called “free” –rigged—trade arrangements, which also furthered the drug black economy. Then over the last year came the tariff war chaos from Washington.
No wonder that the U.S. trade deficits with Mexico and Canada have been soaring, given that Wall Street dictated cross-border sourcing for the cheapest production, no matter what. Gripes about the USMCA cited this week by U.S. officials include that the U.S. overall trade deficit with Mexico was at the level of $197 bil in 2025, and with Canada at $48.3 bil. Big surprise. Additionally, there are a host of knucklehead complaints on agri-food such as that Canada favors its dairy farmers.
Northern Hemisphere Wheat Harvest Down, U.S. at a 150-Year Low
