The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to:
Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet again for another review in six years. If the USMCA members do not agree to extend it for another 16 years, the members will then review the agreement annually.
Given the Trump Administration’s aggressive trade policy, we should not expect the review to be a routine assessment. Instead, the July review will likely become a renegotiation of several important trade issues. Furthermore, Trump has on several occasions indicated that withdrawal from th...
What You Need to Know Today: The G7 agreed to release 100 million barrels of crude oil and fuel reserves over four months, with a substantial diesel release front-loaded into the first 20 days. The announcement initially pushed crude oil lower on Friday, although it later recovered a portion o...
In a recent social media post, R-CALF unveiled its latest cattle market plan: “contracts that bind producers before establishing a base price, then tie that price to future negotiated cash transactions, should be prohibited.” That proposal aligns with recent legislation by Represent...
Key Takeaways: The recent pearl-clutching from parts of the beef industry regarding the loss of the daily Kansas fed cattle negotiated trade pricing report is overwrought and ignores the fact that the direction was readily apparent. The shift away from negotiated trade has been well docu...
