Business Council of Canada says business leaders urge swift renewal of USMCA

The head of the Business Council of Canada (BCC) is urging U.S. trade officials to move quickly on reviewing and renewing the United States-Mexico-Canada Agreement, warning delays could undermine investment and disrupt continental supply chains.

BCC president and CEO Goldy Hyder testified before the Office of the United States Trade Representative (USTR), saying the trade deal is vital to North American competitiveness, economic security and long-term investment.

“The livelihoods of American, Mexican and Canadian workers and their families depend on the continued, certain and predictable operation of USMCA,” Hyder told USTR officials.

The BCC says the USMCA, which replaced NAFTA, has already produced stronger outcomes in trade and investment since taking effect. In a submission to the USTR, it highlighted the agreement’s role in providing stability for cross-border investment, deepening economic integration and reinforcing North America as one of the world’s most productive regions.

The council argues that as the first formal review approaches, governments should focus on renewing and stabilizing the deal rather than weakening it, warning a prolonged review could erode investor confidence at a time of economic uncertainty.

Hyder said delaying or derailing the process could jeopardize jobs, trade and supply-chain performance across North America.

The BCC, along with the U.S.-based Business Roundtable and Mexico’s Consejo Mexicano de Negocios, also issued a joint statement urging all three governments to commit to a rapid and successful review.

The organizations say the united effort from private-sector leaders reflects the interests of millions of workers and “trillions in investments,” and sends a message in support of stable, rules-based trade across the continent.