US and Mexico initiate bilateral USMCA review talks amid Canadian tariff escalation

The US administration has confirmed the imposition of 50% tariffs on select Canadian goods, effective in 30 days, and is preparing to expand its global tariff regime as temporary measures expire. Concurrently, the US and Mexico have initiated bilateral USMCA review talks, excluding Canada, signaling a potential fragmentation of North American trade agreements. The scope and specific targets of broader tariff expansions remain partially unconfirmed, but indicate a significant shift towards more aggressive protectionist policies.