Latin America Advisor 2026-07-15 – Inter-American Dialogue

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

July 15, 2026

What Will Annual Reviews Mean for the USMCA?

The United States this month declined an extension of the USMCA trade accord, meaning it will now be subject to annual reviews. // File Photo: U.S. Department of Agriculture.

Q

The administration of U.S. President Donald Trump on July 1 declined to extend for 16 years the USMCA trade agreement, which Trump negotiated with Canada and Mexico in his first term. While Canada and Mexico in June said they favored extending the trade deal, the U.S. refusal to do so sets the accord up for annual reviews until July 1, 2036, or until the three countries all agree to extend the agreement for another 16 years. What does the U.S. decision mean for the future of the USMCA? To what extent will the U.S. decision lead to economic uncertainty and disruptions in North America? How will businesses and consumers be affected?

A

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
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J.P. Morgan

Marlene Fernández
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Arcos Dorados (McDonald’s)

Peter Hakim
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Adtalem Global Education

Jon E. Huenemann
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James R. Jones
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Monarch Global Strategies

Craig Kelly
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Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
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US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

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