Canada will not let US dictate terms of USMCA review, says Carney

Canadian Prime Minister Mark Carney said on April 22, 2026 that Canada will not allow the United States to dictate terms for the scheduled USMCA review, signalling a firm negotiating stance. Mexico has already held two rounds with the U.S. and will start its first formal round next month; Canada has not set dates. The review must be completed by July 1, but Canada’s chief negotiator Janice Charette said she does not expect all issues to be resolved by then. Markets are likely to watch USDCAD and trade-sensitive sectors as prolonged talks or renewed tariff threats could heighten downside pressure on the Canadian dollar and affect cross-border supply chains and exporters.