Trump Tariff Tracker – December 18

On December 16 and 17, in accordance with the United States-Mexico-Canada (USMCA) Implementation Act, U.S. Trade Representative Greer provided his report to the House Ways and Means Committee and Senate Finance Committee on the operation of the USMCA in advance of the July 1, 2026 joint review. He noted that while U.S. exports to Canada/Mexico have been up 56 percent since 2020, the Administration has a number of concerns with the agreement, including a persistent trade deficit, gaps in labor enforcement, Mexico's energy renationalization, Canada's digital trade restrictions, and a surge in non-market economy investments. This follows earlier statements USTR Greer had made in the press that depending on how the discussions proceed with Mexico and Canada, President Trump could decide next year to withdraw from the USMCA. USTR Greer also raised the possibility of the U.S. negotiating separately with Canada and Mexico and dividing the agreement into two parts.