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U.S.-Canada Trade Relations and the 2026 USMCA Review

Since 2025, trade tensions between the United States and Canada have experienced a notable increase, driven primarily by the implementation of U.S. tariffs targeting core Canadian exports. These protective measures have introduced a layer of friction into long-standing cross-border supply chains and economic partnerships.

Looking ahead, the two nations alongside Mexico face a critical juncture with the formal joint review of the USMCA trade agreement. Because the framework features a built-in sunset and review clause, this ongoing evaluation process could pave the way for substantial shifts in North American trade policy, forcing businesses and governments to adapt to evolving regional dynamics.