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...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
