2026 Review of CUSMA: Opportunities and Risks for Canada

The upcoming 2026 review of the Canada-United States-Mexico-Agreement (CUSMA) presents challenges and opportunities for Canada’s participation in North American supply chains as well as its competitiveness on international exports.  The unconventional and unprecedented renewal provision, set for July 1, 2026, allows any of the three parties (U.S., Mexico, and Canada) to object to the agreement’s renewal. If objections arise, it triggers a renegotiation process that could impact the CUSMA’s continuity prior to the termination date for the CUSMA currently set for 2036. 

This panel will explore, among other things, the rationale behind the CUSMA renewal provision, the effect that political changes could have on the review process, Canada’s preparedness for negotiations, how the U.S. and Mexico may use the review process to extract concessions from Canada and how the review process can be used to eliminate future uncertainty.

In light of the significance of the upcoming negotiations, it is paramount that the parties to CUSMA plan strategically in order to overcome existing U.S. and Mexican barriers to investment and trade.