USMCA Forward 2025 launch: Navigating North American trade amid global changes

The United States Mexico Canada Agreement (USMCA), negotiated during the first Donald Trump administration as a replacement for NAFTA, governs U.S. trade with its two largest trading partners. The USMCA is up for review by July 2026. This review will provide an important opportunity to take stock of the operation of the agreement, update it to address new issues—such as access to critical minerals, the transition to EVs and AI regulation—and strengthen the foundations for competition with China. Yet despite the opportunities that USMCA presents, the agreement’s future is uncertain. President Trump has proposed placing 25% tariffs on imports from Mexico and Canada unless the countries stop flows of fentanyl and illegal migrants. Canada and Mexico have also said they will enact retaliatory tariffs, potentially leading to an escalating trade war.  

On March 5, Brookings Global’s USMCA initiative launched its flagship USMCA Forward report, which outlines the importance of the agreement in supporting the trade and investment needed to realize multilateral goals. This event included panels to discuss the current USMCA, challenges to the agreement in light of the new administration’s approach to international trade, and prospects for updates to the agreement to expand opportunities for trade across new and emerging sectors. 

Viewers submitted questions for the panels via email to [email protected], via X (Twitter) to @BrookingsGlobal using #USMCAForward2025, or using #USMCAForward2025 on Bluesky.

Learn more about the USMCA initiative.