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Report

Trade policy outlook for North American manufacturing

Preparing for the CUSMA 2026 joint review

Since 2020, the CUSMA has underpinned nearly US$2 trillion in annual trade across North America. However, upcoming mandatory reviews in 2026, rising tariffs, and shifting geopolitical dynamics are creating uncertainty for businesses reliant on this agreement. Manufacturers, in particular, face increased risks due to complex supply chains that often cross borders multiple times. Understanding evolving trade rules and preparing for potential changes is essential for building resilience and seizing new opportunities.

Key Takeaways:

  • CUSMA maintains duty-free trade, but stricter rules and new US tariffs increase compliance costs.
  • Geopolitical tensions with third countries are reshaping North American trade relations.
  • The 2026 joint review is critical; failure to extend CUSMA could disrupt trade and trigger a sunset clause countdown.

This report aims to clarify CUSMA qualification requirements, explain how tariffs announced since February 2025 affect them, and explores potential changes from the 2026 joint review. It also provides strategic takeaways to help businesses build resilience and navigate upcoming challenges.

Report

Trade policy outlook for North American manufacturing

Download the report and learn how to prepare for the CUSMA 2026 joint review.

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Falak Kothari

Falak Kothari

Managing Director & Industry Leader, Manufacturing

  • Canada