Ankara: The US announced on Wednesday its decision not to renew the United States-Mexico-Canada Agreement (USMCA), highlighting 'trade deficits with these countries' as the central reason.

According to Anadolu Agency, Trade Representative Jamieson Greer indicated that the US, Mexico, and Canada convened virtually to assess the USMCA's operations. Greer stated, "The United States did not agree to renew the USMCA in its current form. As a result, the USMCA is not renewed. The United States will continue to engage with Mexico and Canada to address the Agreement's shortcomings and our trade deficits with these countries."

Greer further noted that the USMCA will remain effective until the highlighted issues are rectified or until the agreement naturally expires. He added that the US is set to meet with Mexico during the week of July 20 for the third round of bilateral negotiations as part of an ongoing joint review process.

Earlier in the day, a senior administration official informed reporters that the US's primary concern on the global stage, particularly with Canada and Mexico, revolves around the 'trade deficit.'