President Donald Trump on Wednesday cast fresh doubt over the future of the United States-Mexico-Canada Agreement (USMCA), saying he is not certain he will renew the landmark North American trade pact when it comes up for review during his current term. The remarks, made at the White House after he signed the Secure America Act, are likely to unsettle manufacturers, exporters, and investors across the three-nation supply chain.

What Trump Said

"I don't know that I'm going to renew it," Trump said when asked directly about the agreement's future. He also dismissed the economic weight of the two neighbouring partners, stating: "We don't need anything that Canada has. We don't need anything that Mexico has, but they need everything that we have. And they have to treat us better."

Trump further pointed to persistent trade deficits with both countries as a core grievance. "With Mexico and Canada, we have trade deficits," he said. "We should have surpluses with them."

Why USMCA's Review Clause Matters to Trump

Trump, who negotiated the USMCA during his first term to replace the North American Free Trade Agreement (NAFTA), argued that the pact's built-in review mechanism is its most valuable feature. "USMCA did one thing that I loved," he said. "After six years, it comes up for renewal." He reiterated his long-standing view that NAFTA was damaging to the United States — calling it "a disaster for our country, the worst trade deal ever made, by far."

The USMCA entered into force in 2020 following negotiations led by the Trump administration. It modernised rules governing trade in goods, services, digital commerce, labour standards, and intellectual property across North America — areas where NAFTA was widely seen as outdated.

What Happens at the Review

The pact is scheduled for a formal review in the coming years, a provision that distinguishes it from NAFTA and gives all three member countries the opportunity to reassess its operation and future direction. While Trump stopped short of announcing a formal withdrawal process, his comments signal that the United States intends to use that review as leverage.

Trump suggested the US holds greater economic leverage than its two North American trading partners and should deploy that advantage in any future renegotiation. This comes amid broader US efforts to reset trade relationships globally, with tariffs already imposed on a range of imports from both Canada and Mexico earlier in 2025.

Impact on Trade and Industry

The three-country bloc represents one of the world's largest integrated trade zones. Businesses — particularly in automotive, agriculture, and electronics — have built cross-border supply chains premised on the stability of the USMCA framework. Any uncertainty around renewal is likely to delay investment decisions and prompt contingency planning across sectors. Notably, this is not the first time Trump has questioned the durability of trade agreements he himself negotiated, a pattern that has historically kept trading partners in a state of strategic uncertainty.

With the formal review window approaching, all eyes will now be on whether Washington issues a formal notice of intent — or uses the ambiguity itself as a bargaining chip.