During a recent press conference alongside French President Emmanuel Macron, former U.S. President Donald Trump made a surprising admission regarding the United States’ trade agreements with Canada and Mexico. While discussing the U.S.-Mexico-Canada Agreement (USMCA), which he had previously championed as “the largest most significant modern and balanced trade agreement in history,” Trump expressed regret over the deal’s outcomes.LA Progressive+1Trump White House Archives+1
Trump criticized the trade relationships, stating that the United States has been “mistreated very badly by many countries, not just Canada and Mexico.” He attributed this to past U.S. leadership, remarking, “We were led by, in some cases, fools… Anybody that would agree to allow this to happen to our country should be ashamed of themselves.” This statement drew attention, considering Trump himself negotiated and signed the USMCA in 2018, replacing the North American Free Trade Agreement (NAFTA). LA Progressive
The USMCA was intended to rectify perceived imbalances in trade among the three nations. However, since its implementation, the U.S. trade deficits with both Mexico and Canada have increased. Data indicates that the U.S. trade deficit with Mexico more than doubled from $77.7 billion in 2018 to $171.8 billion in 2024, while the deficit with Canada grew from $18.8 billion to $63.3 billion in the same period. LA Progressive
Trump’s remarks have sparked discussions about accountability and the effectiveness of the USMCA. Critics argue that his comments reflect a reluctance to take responsibility for the deal’s shortcomings. Supporters, however, contend that the former president is acknowledging the complexities of international trade and the challenges in renegotiating longstanding agreements.
This incident underscores the ongoing debates surrounding U.S. trade policies and the impact of leadership decisions on economic outcomes. As trade dynamics continue to evolve, the effectiveness of agreements like the USMCA remains a focal point for policymakers and stakeholders.
