With July 1 approaching – the formal review date for the United States-Mexico-Canada Agreement – it has become clear that there will be no 16-year extension of the trade treaty. The USMCA governs trade between the three countries, and Canada receives carveouts for U.S. tariffs on USMCA-compliant goods.

Mark Rendell is The Globe’s economics reporter, and joins the show to talk about how Canada got into a position of entering trade limbo, and what this new reality could look like going forward.

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