💹 MARKET WATCH: The US, Canada and Mexico begin bumpy negotiations to renew North American trade pact

WASHINGTON (AP) — Tourists from Chattanooga check into beach resorts in Cancun. Canadian auto parts feed factories in the American Midwest – and vice versa. Happy hour revelers raise glasses of Mexican tequila and mezcal at bars in Seattle.

It adds up. The United States trades $1.9 trillion a year — $5 billion a day — worth of goods and services with its neighbors, Canada and Mexico. They have supplanted China to become America’s top two trading partners. 

So the stakes are high when it comes to fiddling with the rules that govern trade between the three countries. And after a year of President Donald Trump’s chaotic tariff policies, many U.S., Canadian and Mexican businesses would welcome the return of stability across North America. 

They are not likely to get it. 

The regional trade pact — the U.S.-Mexico-Canada Agreement or USMCA — that Trump negotiated and boasted about came up for renewal Wednesday, starting a process that is likely to last months, maybe longer.

The US, Canada and Mexico

View full story: https://apnews.com/article/usmca-mexico-canada-trade-nafta-4531f12f1a59cb2b2e20bcdbdd9d47b5