CUSMA- The Agreement between the United States of America, the United Mexican States, and Canada (USMCA )[1][Note 1] is a free trade agreement among the United States, Mexico, and Canada, in effect from July 1, 2020. It replaced the North American Free Trade Agreement (NAFTA) implemented in 1994.
Four out of five Canadian business leaders say the federal government should focus on a bilateral trade deal with the United States, excluding Mexico, according to a new KPMG Canada survey.
According to the results, 88 per cent say the greatest risk to their company is losing current protections under the Canada-U.S.-Mexico Agreement (CUSMA). A similar number, 82 per cent, believe U.S. tariffs requiring foreign trade partners to “pay to access the U.S. market” are here to stay.
According to KPMG’s survey, 80 per cent of Canadian business leaders surveyed “would support a bilateral agreement with the U.S. only, rather than the trilateral Canada-U.S.-Mexico Agreement.”
Carney visited the Mexican capital last month, laying potential groundwork for a bilateral trading relationship between the two nations.