Topic
CUSMA
Analysis of the Canada-United States-Mexico Agreement, the 2026 joint review, and what's at stake for Canadian exporters.
1 IssueRSS for CUSMA
Orientation
CUSMA is the 2018 successor to NAFTA and the legal architecture under which roughly $1.5 trillion in annual trilateral trade moves. It includes a sunset clause: if the three governments do not jointly extend it at the 2026 review, the agreement enters a sixteen-year wind-down. The review window is the most consequential trade-policy event for Canada in the post-NAFTA era.
Key numbers
- U.S. FDI stock in Canada, end-2024
- $684B CAD
- Canada-U.S. two-way auto trade, 2024
- ~$160B CAD
- Regional value content threshold for autos
- 75%
- Joint review deadline
- July 1, 2026
Primary sources
- Bank of Canada — January 2026 MPR In Focus
Best single-document analysis of failed-extension scenarios for Canadian GDP.
- PwC Canada — Preparing for the CUSMA 2026 review
Sector-by-sector compliance breakdown.
- Government of Canada — CUSMA portal
Official Canadian government text and supplementary materials.
Related explainers
Coverage