Economy March 12, 2026

U.S.-Canada Trade Talks Stalled as Mandatory USMCA Review Nears, Ambassador Says

Washington seeks renewal of the USMCA but faces Canadian resistance; energy ties remain a potential area for deeper collaboration

By Maya Rios
U.S.-Canada Trade Talks Stalled as Mandatory USMCA Review Nears, Ambassador Says

U.S. Ambassador to Canada Pete Hoekstra said the United States wants to renew the U.S.-Mexico-Canada Agreement but is encountering resistance from Canada as a mandatory July 1 review approaches. Speaking in Toronto, Hoekstra said there have been no substantive talks with Canada since October and urged Canadian interests to press for lower tariff treatment. He also highlighted energy cooperation as an area with room to expand.

Key Points

  • U.S. seeks renewal of the USMCA but reports resistance from Canada as a mandatory July 1 review approaches - impacts trade and tariff-sensitive sectors.
  • There have been no substantive talks between the U.S. and Canada on the pact since October, a gap that U.S. officials say is creating negotiating headwinds - affects negotiation timelines and policy certainty.
  • The U.S. is pushing for lower tariff treatment and removal of non-tariff barriers and sees energy as an area for expanded cooperation, noting existing imports of Canadian oil and natural gas - relevant to energy and midstream sectors.

U.S. Ambassador to Canada Pete Hoekstra said Thursday that Washington is seeking to renew the U.S.-Mexico-Canada Agreement (USMCA) but is running into opposition from Canada as a mandatory review date of July 1 draws near. Hoekstra delivered his remarks at the Canadian Crops Convention in Toronto.

The ambassador said the U.S. views the trade pact - known in Canada as CUSMA - as having functioned well, but he stressed that there have been no substantive negotiations with Canada since October. That gap in talks, he said, has contributed to what he described as "headwinds" in efforts to reach an agreement.

"I think we want to get to an agreement, but we are facing some headwinds in the negotiations," Hoekstra said, citing the lack of substantive discussions since October.

Hoekstra urged Canadian officials and businesses to take steps to secure placement in the lowest tariff categories. He said the United States is seeking coalitions with other countries to ensure that when trade agreements are struck, non-tariff barriers to trade are removed.

The ambassador also referenced comments from U.S. President Donald Trump, saying the president has indicated there will be some tariff associated with accessing the U.S. market. Hoekstra said that Canadian government and corporate actors should make the case for why it would be advantageous for the United States to offer Canada the lowest tariff treatment.

On energy, Hoekstra suggested closer bilateral cooperation. He noted that the United States already imports significant quantities of Canadian oil and natural gas, that much of that energy is processed in the United States, and that Washington would like to expand the partnership.


Taken together, the ambassador's comments underscore two concurrent threads: an unresolved negotiating dynamic on USMCA renewal and a desire from the U.S. side to deepen commercial ties in energy while pressing Canada on tariff positioning and removal of non-tariff barriers.

Risks

  • Resistance from Canada could impede timely renewal of the USMCA, creating uncertainty for exporters and importers in agriculture, manufacturing, and trade-sensitive industries.
  • The absence of substantive talks since October raises the risk that negotiators may not resolve outstanding issues ahead of the July 1 review, potentially affecting market expectations and planning for firms that rely on stable cross-border rules.
  • Threats of tariffs tied to U.S. market access, referenced by the ambassador via comments from the U.S. president, introduce uncertainty for Canadian businesses that depend on preferential tariff treatment.

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