Mexico, Canada have formed a common front on CUSMA talks, says Sheinbaum

Mexico has formed a common front with Canada during talks on the future of the Canada-U.S.-Mexico Agreement (CUSMA), says Mexican President Claudia Sheinbaum. 

The three sides are holding a pivotal virtual meeting on July 1 to discuss whether to extend the trade agreement for another 16 years or embark on other paths that could see talks continue.

Canada and Mexico have both formally stated their intention to seek a 16 year extension of the trilateral trade deal that was born over three decades ago.

The U.S. has offered conflicting signals on its intentions, with President Donald Trump threatening not to renew the deal, which he signed during his first term as president, then later saying he may sign it. But the U.S. has yet to issue a formal position.

Canada-Mexico relationship strengthened

Sheinbaum said Canada and Mexico had formed a common front “through the communications that we have” in talks around CUSMA’s renewal. 

“We have strengthened our relationship with Canada, there are Canadian business investments in Mexico,” said Sheinbaum, responding to a question from CBC News during her regular weekday news conference. 

“And, in addition to that, our commerce is getting stronger.”

The CUSMA deal is set to expire in 2036. Any of the parties to the agreement can pull out of the trade accord after giving six months notice. 

While the U.S. has insisted on having ongoing, separate talks on the trade deal with Mexico and Canada, Sheinbaum says her country has always favoured trilateral negotiations. 

“We all know of the decision by the government of the United States, of President Trump, of a different vision of international commerce where they have become more protectionist,” said Sheinbaum. 

“Talks are happening within this framework.”

Trade ties growing

Mexico’s Secretary of Economy Marcelo Ebrard announced last week that the three countries would be meeting virtually on July 1 to present their positions on the future of the trilateral trade deal. 

This is the first formal trilateral meeting between the three countries. 

Ebrard discussed CUSMA with Canada-U.S. Trade Minister Dominic LeBlanc in Toronto this past May during a Mexican trade mission to Canada. The meeting was not designated as an official negotiating session.  

Canada and Mexico recorded about $62 billion Cdn in the trade of goods in 2025, according to federal government data. This figure has grown dramatically since the signing of the 1994 North American Free Trade Agreement (NAFTA), when Canada-Mexico trade totalled just under $5 billion, according to the data.

Canada was the second-largest destination for Mexican goods last year, and those exports grew 17 per cent between 2024 and 2025, according to figures from both governments.

Sheinbaum touted recent Canadian investment in the Gulf of Mexico Port of Altamira in the state of Tamaulipas as an example of the strengthening economic ties between the two countries. 

“This will allow for much more maritime commerce between Mexico and Canada, going both ways,” she said.

“Both countries want to maintain the trade deal.”

Montreal-based Logistec recently announced it had struck a deal to buy  Inmobiliaria Portuaria de Altamira, (IPA), a facility located at the Port of Altamira that specializes in handling steel and industrial material too big to put into shipping containers.

The federal government highlighted the deal among several successes following one of the largest Team Canada trade missions ever assembled that landed in Mexico in February.