Trump might tear up ‘the best deal ever made’

May 28, 2026 — 11:59am

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In 2020, when he renegotiated a North American free trade deal that had stood for nearly three decades, US President Donald Trump described the creation of the US-Mexico-Canada Agreement (USMCA) as “the best and most important deal ever made” by the US. Now, having labelled that deal “bad” and “unfair,” he’s considering tearing it up.

This week, the US began formal negotiations with Mexico over changes to the relationship established by the USMCA agreement, which replaced the North American Free Trade Agreement, or NAFTA. While there have been discussions with Canada, so far it has been largely left out in the cold, with that relationship quite frosty.

When the USMCA agreement was struck, the three countries agreed to a joint review after six years and, if they agreed it was satisfactory, to leave it in place until 2042.

If they don’t agree to that extension, the existing agreement remains in place, but will be subject to annual reviews over the next decade. If, at the end of that period, there still isn’t a consensus, the agreement is terminated.

Since the 2020 deal, which was (despite Trump’s description of NAFTA as “perhaps the worst trade deal ever made” and his enthusiasm for the USMCA) more of an update to NAFTA than a wholesale re-writing of the countries’ trade relationships, a lot has changed in the trade relationships.

‘Elbows up!’ How Canada stopped playing nice with Trump

Canada and Mexico, despite the USMCA, have been included in Trump’s trade wars on the rest of the world.

While a raft of tariffs imposed by legislative headings deemed illegal by the US courts have been withdrawn, or may have to be........

© Brisbane Times