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U.S. senators meet with Carney, push to ‘reinvigorate' CUSMA ahead of Trump deadline

U.S. senators meet with Carney, push to ‘reinvigorate' CUSMA ahead of Trump deadline

National Post21-07-2025
OTTAWA — Prime Minister Mark Carney heard from a bipartisan delegation of U.S. senators on Monday that he should seek to 'reinvigorate' discussions about the Canada-U.S.-Mexico (CUSMA) trade agreement as he faces pressure to close a deal with the White House by Aug. 1.
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U.S. President Donald Trump has threatened to impose a blanket tariff of 35 per cent starting next month on Canadian goods entering his country, barring him and Carney coming up with a new economic and security agreement before that date.
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Carney met on Parliament Hill first thing in the morning with Democratic senators Rob Wyden from Oregon, Maggie Hassan from New Hampshire and Catherine Cortez Masto from Nevada, as well as Republican Senator Lisa Murkowski from Alaska, to discuss Canada's ongoing trade war with the U.S.
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Murkowski is one of the only Republican senators who has been openly critical of the Trump administration.
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Speaking after the meeting, Wyden said the first step to bring stability to the Canada-U.S. economic relationship is to try to 'reinvigorate' CUSMA — known as USMCA on the U.S. side — and said the other visiting senators share his view.
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'This is something that we've had a considerable amount of success with since it was written during the (first) Trump administration, and we ought to strengthen it. We ought to build it, not get rid of it,' Wyden said.
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CUSMA is scheduled for review in 2026. Over the weekend, U.S. Commerce Secretary Howard Lutnick said he expects Trump will want to renegotiate the existing agreement next year.
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'It makes perfect sense for the president to renegotiate it,' Lutnick told CBS News in an interview that aired on Sunday. 'He wants to protect American jobs. He doesn't want cars built in Canada or Mexico when they could be built in Michigan and Ohio.'
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Wyden did not specify what he meant exactly by reinvigorating the existing trade deal, or if it meant in his view an early review or renegotiation ahead of next year's deadline.
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'At the end of the day, you are our best friends, and the relationship is going through some great strain,' said Hassan, whose state, New Hampshire, has long been a tourist destination for Canadians.
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'But we do think that the framework of the USMCA gives us an opportunity to, kind of in one framework, come together and improve on something that was a great bipartisan success back in 2018,' she added.
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Contact: Jim Giaquinto Company: Phone: 312-265-9268 Email: pr@ Visit: provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. 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