U.S. auto industry faces uncertainty without USMCA extension

Michael Wayland | CNBC The U.S. automotive industry is entering a new phase of uncertainty as the USMCA trade agreement between the United States, Mexico and Canada is not expected to be extended by Wednesday, triggering what could be a yearslong review process or an expiration of the pact if no deal is reached by 2036. The United States-Mexico-Canada Agreement, which replaced the North American Free Trade Agreement, was established during President Donald Trump’s first term in 2020, but the administration has soured on the deal that governs roughly $2 trillion annually in goods and services between the three countries….