The Journal. · Wednesday, August 26, 2026
The renewal of the USMCA trade deal became a point of contention when the US refused to open formal negotiations with Canada, citing outstanding retaliatory tariffs. Despite weeks of talks between Canadian negotiators and US trade representatives, a breakthrough was not reached before the July 1st deadline, leading to the implementation of new tariffs.
“Most of the recent tension between Canada and the US started boiling up again when it came time for that deal to be renewed.”
“So then we arrive in the summer, right? There's this July 1st deadline on USMCA.”
“But the US would not open formal negotiations with Canada. In part because Canada still had some retaliatory tariffs on the books.”
“Late into the night on Tuesday night, we get word from both sides that actually, we've walked away from the table. There's not going to be a delay, there's not going to be a deal.”