Bloomberg Surveillance · Tuesday, September 22, 2026
The renegotiation of the USMCA is largely driven by the U.S. desire for stricter rules of origin to prevent Chinese subcomponents and content from benefiting from the trade agreement with Canada and Mexico. While a deal with Mexico might be reached soon, negotiations with Canada are expected to be more protracted.
“China already is. The one thing that the U.S. wants out of these negotiations is stricter rules of origin to prevent Chinese subcomponents, Chinese content, from getting the benefit of the bargain we struck with Canada and Mexico. So I think that's ultimately what this is about. Now, we may see some sort of deal with Mexico in the next few weeks or by the end of the year. I think Canada is going to take a much longer time to resolve. But that's what this USMCA renegotiation is really all about.”