US-Mexico-Canada Trade Talks: Key Updates & Tensions

0:00What's up? I'm Cory with the story, and these are your headlines from Durham News today. Every day, more than $4 billion worth of goods flow across the United States borders with Canada and Mexico. A lot of this trade stays duty free under the U.S.-Mexico-Canada Agreement, or U.S.-MCA, which President Trump put together during his first term. Now, renewal talks are getting underway, starting Monday between U.S. and Mexican officials. The pact took effect on July 1, 2020. Starting the old North American Free Trade Agreement, it added rules for digital products like music and software, and push for higher wages, plus more North American-made parts and factories. Still, the U.S.-wants big updates, and Trump has talked about pulling out or switching to separate deals with each country. This involves $1.6 trillion in yearly trade between the three nations. U.S. farmers rely on a heavily, shipping nearly $31 billion in crops to Mexico and $28 billion to Canada last year. Canada and Mexico fear disruptions from tariffs, since they send way more to the U.S. than

1:04China does. The U.S. is demanding tougher barriers against Chinese goods sneaking in, plus incentives for more American production and greater access to Canada's. Dairy market Mexico prefers small tweaks, like looser rules on parts from outside the region, and a stronger system to settle disputes fast. Canada plans to join soon, and both sides agree North American teamwork is key to competing globally. Officials say they have until 2036 to sort it out, with tensions run high with tariffs already hitting trucks, steel, and tomatoes. This DNA story comes to you thanks to our sponsor. Layback, press play, let the pillow do the rest, sound meets comfort, S-O-L-I-S-O-L-Pillow.com