Ahead of the USMCA Review, Trade Personifies Wealth Creation
The U.S.-Canada advisory committee was formed ahead of the 2026 USMCA review to defend free trade between the two countries, highlighting the integrated North American economy as a key engine for wealth creation. Bilateral trade between the U.S. and Canada reached an estimated $719 billion in 2025, driven by millions of individual, voluntary decisions.
Prime Minister Mark Carney has appointed a high-level U.S.-Canada advisory committee, comprising industry leaders like François Poirier of TC Energy and Darryl White of BMO, to prepare for the 2026 USMCA review. The North American economy is an integrated engine for wealth creation, not a collection of silos. In 2025, bilateral trade between the U.S. and Canada reached $719 billion, driven by individual decisions. Canada is the top export market for over 30 U.S. states, and roughly 8 million American jobs are tied to this commerce. The upcoming USMCA review should focus on governments getting out of the way, rather than renegotiating what works, to preserve the region's comparative advantage in the global market. Protectionism restricts prosperity and adds friction to trade, taxing consumers and limiting their ability to seek the best value.
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