USMCA Forward 2026 launch

North America is approaching a pivotal moment for its economic future. The U.S.-Mexico-Canada Agreement (USMCA), which replaced NAFTA and has anchored regional trade and investment since 2020, faces its first joint review starting on July 1, 2026. The purpose of the joint review is to evaluate the agreement’s performance and ensure it remains up to date.

Yet the economic and political context surrounding the review has shifted dramatically in recent months. The second Trump administration has reshaped U.S. trade policy, imposing sweeping tariffs on imports from Canada and Mexico under the International Emergency Economic Powers Act (IEEPA) and additional strategic sectors under Section 232 authorities. The recent Supreme Court ruling striking down the administration’s use of IEEPA has prompted the White House to temporarily impose new tariff surcharges under a different legal authority. These actions have introduced new uncertainty about the future of the agreement and the trajectory of trade in the region, raising important questions about how North America will navigate trade, security, and competitiveness amid intensifying global competition.

On Wednesday, March 4, Brookings Global’s USMCA initiative launched its flagship report, “USMCA Forward 2026,” which examines what is at stake in the joint review and outlines key priorities to ensure a more resilient and competitive North America. The event featured leading experts on North American trade, supply chains, and economic security for a discussion of the policy choices that will shape the joint review and the region’s economic future.