The blurry future of North American free trade

National flags representing the United States, Canada, and Mexico. THE CANADIAN PRESS/AP/Judi Bottoni AP2008

By Analysis by The Big Story podcast

Posted Jul 6, 2026 7:03 am.

On its July 1 deadline, U.S. President Donald Trump declined to renew the current conditions of Canada-United States-Mexico Agreement (CUSMA). It doesn’t mean Canada-U.S.-Mexico trade as we know it dissolves, but it signals a need for trade diversification and an investment in Canada’s sovereignty by the new 2036 deadline.

Host Caryn Ceolin speaks to Julian Karaguesian, visiting professor at McGill University and former special advisor in the International Trade and Finance Branch of the Ministry of Finance Canada. They discuss the future of North American free trade and what it means for your wallet.

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