The USMCA at a Crossroads, 2026 Q3 Report

Bottom Line. The USMCA remains in force, but the scheduled July review left its long-term status unresolved. Since then, U.S.-Mexico talks have advanced through a third bilateral round, while U.S.-Canada negotiations have deteriorated into new tariffs, counter-tariffs, and import bans. For Texas, the central objective should be a strengthened agreement that resolves legitimate disputes and restores durable certainty for investment…