00:00U.S. trade officials have launched a formal review of the U.S.-Mexico-Canada agreement
00:05ahead of next year's renegotiation.
00:08They are seeking input from American businesses on the future of the PEC,
00:12the country's largest free trade deal.
00:17The agreement took effect in 2020, with a mandatory joint review set for July 2026.
00:24If the three countries fail to extend it, the deal will expire in 2036.
00:28Both Canada and Mexico are facing significant tariffs on goods outside the agreement.
00:34The Trump administration imposed duties of 50% on steel and aluminium
00:38and an extra 25% on some cars and auto parts.
00:43Meanwhile, Canadian Prime Minister Mark Carney is due to travel to Mexico on Thursday
00:47to meet President Claudia Scheinbaum,
00:49with a trade-pack review expected to top their agenda.
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