Julio Vaqueiro

Make the Deal Work: Rethinking USMCA for a Competitive Future | Global Investors' Symposium MX City

Julio Vaqueiro, Kimberly Breier, Cameron MacKay, Esteban Moctezuma

Three diplomatic and legal experts convened to anticipate the 2026 USMCA review, emphasizing a strategic shift toward a narrow modernization of the 2018 text rather than a full renegotiation driven by emerging challenges in AI, energy transition, and supply chain resilience. While U.S. political rhetoric frames the process as a high-stakes renegotiation, Mexico and Canada advocate for a targeted trilateral approach to address the "China factor" and stabilize bilateral trade dynamics amidst the U.S. election cycle. The panelists concluded that achieving predictable outcomes will require broad political buy-in to secure updated chapters on critical minerals and technology, ultimately strengthening North American competitiveness against global rivals.