Canada
July 24, 2026
Final Thoughts: USMCA column wrap-up
Written by Ethan Bernard
I wrote a Final Thoughts back in early May introducing our USMCA review columns from US and Canadian steel trade groups. The idea was simple: the American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), and Canadian Steel Producers Association (CSPA) would each contribute three monthly columns in the lead-up to, and just following, the USMCA review date. That officially started July 1. Well, now that the series has come to an end… it didn’t exactly have a happy ending.
I guess in a perfect journalistic world, the last column would’ve signed off with a bang. “I’m glad all parties rolled up their sleeves and came to an understanding we can all live with.” Something like that. Maybe, “You will no longer need a PhD in international relations to figure out the extra costs of steel crossing the borders in North America.” The tie-in with the end of the latest World Cup, hosted by all three nations, would’ve been a nice touch. Alas, it was not to be.
SMA
Probably the most notable news happened right at the outset of the review. That is when the US declined to renew the agreement in its current form. But as SMA President and CEO Philip K. Bell reminded us in the headline of his column yesterday: “Don’t panic—The USMCA clock has not run out.”
That is, the United States has not left the agreement. Rather, the Trump administration’s decision triggered the USMCA being up for yearly review between the partners for the next 10 years.
Bell also pointed out that “Canada and Mexico, our biggest steel trading partners, are dependent on US trade.”
He continued that “the sooner they come to grips with that reality and commit to pursuing fair, meaningful improvements to the USMCA, the sooner we can realize a rationalized trading relationship in North America that benefits all three countries.”
Additionally, he pointed out that bilateral negotiations between the countries may yield easier solutions than all three countries negotiating at one time. “Three bilateral threads are easier to advance than one knotted trilateral rope,” he said.
Regarding that, on Thursday, US Trade Representative Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard issued a joint statement praising the negotiations. This follows Greer traveling to Mexico City for the third round of bilateral talks between the two countries.
Greer also met with Mexican President Claudia Sheinbaum, where the two reviewed the status of discussions regarding trade policy on steel and aluminum, derivative products, and automobiles, among other issues.
Though there was no news on what, if any, progress the talks made. The two officials spoke in a statement about “the continued constructive engagement between USTR and the (Mexican) Secretariat of Economy.”
They also announced a fourth bilateral negotiating round in Washington, D.C., set for September.
Will similar talks with Canada soon follow?
AISI
On July 9, AISI President and CEO Kevin Dempsey wrote that he saw an opportunity to fortify the US steel industry: “Use USMCA review to strengthen markets for American steel.”
Rather than a stumbling block, he sees these negotiations as an opportunity “to transform USMCA into something even stronger: the foundation of a true ‘Fortress North America’ for steel and manufacturing.”
He stressed stronger melted-and-poured rules for North American steel.
CSPA
Finally, a column from CSPA President and CEO Catherine Cobden on July 16 focused on collaboration: “Working together to combat global steel overcapacity.”
Cobden highlighted that fighting global steel overcapacity for North America means deepening cooperation between the US, Canada, and Mexico – and solving the current trade disputes.
“Our continent should be the global success story of how to stop overcapacity steel from undermining our steel market,” Cobden said.
Further, she underscored that Canada itself has made moves to contend with Chinese overcapacity.
“Canada has taken meaningful steps, and those measures are producing results,” she said. “The Canadian trade framework now directly targets China’s steel overcapacity through multiple layers.”
Wrapping up
So, while we haven’t arrived at that successful finish line regarding USMCA negotiations just yet, there still is a lot of work being done on all sides. SMU thanks SMA, AISI, and CSPA for contributing columns and deepening our understanding of the issues surrounding the review.
And whether it’s bilateral, trilateral, or a completely new solution that emerges, SMU will definitely keep you posted. As always, thanks for all your support!
Editor’s note
Catherine Cobden is stepping down as the head of CSPA on July 31. Her successor has not yet been named. She’s served as president and CEO of the association since 2019.
