Renewal negotiations of the USMCA begin, with trade among the three countries reaching $1.6 trillion.

The US and Mexico began negotiations on the renewal of the USMCA at the start of the week. Previously, the US had requested modifications to this agreement, which came into effect on July 1, 2020, and stated that if Trump could not secure an ideal agreement, he would have the US withdraw from the agreement. The negotiations involve goods trade worth $1.6 trillion annually among the three countries of the US, Mexico, and Canada. Mexico and Canada's import and export trade with the US far exceeds that with China. American farmers especially hope that the agreement will be renewed, as they exported nearly $31 billion and $28 billion in agricultural products to Mexico and Canada respectively last year.

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Original: toutiao.com/article/1859887728167947/

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