Q1 trade and consumer spending boost Canada’s 2023 growth: IMF economist Daniel Leigh
Two members of Congress want to invite Latin American countries to join Canada's trade agreement with the United States and Mexico.
Louisiana Republican Sen. Bill Cassidy and Sen. Michael Bennet, a Democrat from Colorado, say they want to create a Western Hemisphere trading bloc to combat China.
They say expanding the U.S.-Mexico-Canada Agreement to include Latin American countries would be a win-win for the Americas.
Their proposed Americas Trade and Investment Act is designed to leverage the power of the U.S. as a trading partner to foster economic growth and stability throughout the hemisphere.
But the idea comes at a fraught political moment in the U.S., with former president Donald Trump — the original catalyst for renegotiating NAFTA — leading the race for the Republican nomination in 2024.
Juan Carlos Baker, who helped lead Mexico's team in those talks, says the USMCA review process in 2026 is a "perfect window" to explore expanding the agreement.
This report by The Canadian Press was first published Sept. 14, 2023.