(Washington) Business leaders from across North America are gathered in the US capital to discuss maximizing the continent’s competitive advantages.
The future of the Canada-United States-Mexico Agreement (CUSMA) is a particularly hot topic at this North American Business Summit in Washington.
U.S. Chamber of Commerce CEO Suzanne Clark said it’s vital for the North American economy that this free trade agreement survives its re-examination, scheduled for 2026.
Vital, she says, because like democracy, free trade is under attack around the world, and CUSMA is currently its standard bearer.
Mme Clark says CUSMA is also a key weapon against the protectionist economic policies that are increasingly common around the world, including in the United States and Mexico.
Blanca Treviño, president and CEO of Mexico-based digital solutions firm SoftTek, expects the deal to be renewed, but each partner will fight hard during the negotiations.
Under CUSMA, the Free Trade Commission must meet no later than six years after the agreement enters into force (in 2020), to carry out a “joint review” of its functioning.