Peru’s Path Forward: Navigating Political, Economic, and Global Dynamics

LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

January 31, 2025

What’s on the Table for Renegotiation of the USMCA?

The U.S.-Mexico-Canada trade accord, known as the USMCA, is up for review next year but could see an early renegotiation. // File Photo: Canadian Government.

Q

A

Joy K. Gallup, partner at Baker McKenzie: “President Trump’s threat of 25 percent tariffs on its two largest trading partners is being used as a weapon for more than one purpose. Trump’s initial goal—extracting cooperation from Mexico and Canada on larger border issues of illegal immigration and fentanyl trafficking—is already progressing, with leaders of those countries implementing policies intended to tighten border security. In addition, Trump pledged to support U.S. farmers and workers as part of his campaign, and he intends to use tariffs broadly to do so. Mexico and Canada are likely to retaliate with tariffs of their own, which will affect all three economies, but obviously Canada and Mexico have much more to lose. An early review of the USMCA and individual tariffs is expected to begin…”

Top News

U.S. Tariffs on Canada, Mexico May Exclude Oil: Trump
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Payment firm Wise, which provides remittance services, announced Thursday that it has launched operations in Mexico.
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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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