On Wednesday, Donald Trump was elected the 47th president of the United States, sparking concerns about potential shifts in U.S. trade policies with Canada. Experts are particularly worried about the possibility of new tariffs, which could increase costs for Canadian exporters and contribute to inflationary pressures within Canada.

Speaking with BNN Bloomberg, Wendy Wagner, co-leader of Gowling WLG's International Trade & Customs Group, highlighted that the Trump administration's positioning during the first scheduled joint review of the United States-Mexico-Canada Agreement (USMCA) in 2026 will be a particular point of concern for Canada. This review will determine if the agreement is renewed for another 16 years.

"If consensus is not reached in the joint review, there will be annual reviews until 2036, which will perpetuate the uncertain environment," she said.

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To succeed in a complex global marketplace, organizations need a legal partner with hands-on experience who can help them use trade agreements to their strategic advantage - and provide effective advice and proven solutions for the complicated compliance issues these agreements create. The Gowling WLG International Trade Group takes the time to understand the unique challenges faced by each client and creates customized solutions to help them achieve their business objectives. Learn more.