Trump: We may not renew the trade agreement with Canada and Mexico

(Patria) - President Donald Trump said the United States may not renew the free trade agreement with Canada and Mexico and criticized trade deficits with those countries, although he said he is discussing the matter with their leaders, Reuters reported.

The three countries must approve the renewal of the existing agreement by July 1 or signal their intention to withdraw from the pact, a process that would take ten years and buy time for amendments.

"I am not seeking renewal," Trump said at the White House.

"We don't need anything Canada has. We don't need anything Mexico has, but they need everything we have. They have to treat us better."

The Office of the United States Trade Representative announced that the United States and Mexico will hold a second round of negotiations in Washington on June 16 and 17, focused on agriculture and "level playing field conditions," with a third set of talks in Mexico City scheduled for the week after July 20.

Canada had a positive meeting with the U.S. on the review of the free trade agreement, Canadian minister responsible for Canada-U.S. trade Dominic LeBlanc said on Tuesday, but no date has been set for formal negotiations between the two countries.

The six-year-old agreement between the United States, Mexico and Canada and its predecessor created a highly integrated North American economy, with nearly $1.6 trillion in annual trilateral trade, but its future depends on negotiations in the coming months.

In 2025, the United States had a trade deficit of $46 billion in goods with Canada and a deficit of $197 billion in trade with Mexico.

Mexico has been the top U.S. trading partner since 2023, with about eighty percent of Mexican exports going to the United States, while nearly seventy percent of Canadian exports also go to the world's largest economy.

Mexico and Canada import nearly a third of exported American goods.