True Patriot Love - July 18, 2026


CUSMA： What Does It Mean For Canada？


Episode Stats


Length

10 minutes

Words per minute

155.82

Word count

1,587

Sentence count

69


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The deal between the United States of America and Mexico and Canada and the North American Free Trade Agreement (Kuzma) is not renewed. What does that mean for the future of the agreement and what will happen next?

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 the president of the united states has said he's not that interested in doing that i didn't want
00:00:03.920 to say that but yeah i know the last thing trump wants to do is even talk about kuzma
00:00:08.160 he hates it he's always said he doesn't like it he said it again getting on a plane a few days ago
00:00:12.400 he said listen you know by the way i don't like it quite frankly i'd like to terminate it
00:00:17.760 but it's really not in his best interest to do it right now
00:00:20.480 thank you for joining us tplmedia.ca is where you found yourself tplmedia.ca local because we are
00:00:31.860 likely in your canadian hometown today we're talking about kuzma will it actually exist
00:00:38.420 what form have we left it in and what happens next let me share a couple of things with you
00:00:44.440 One of them first stateside and the other one from here in Canada.
00:00:49.600 The first one comes from Ambassador Greer from Washington.
00:00:53.420 The agreement between the United States of America and the United Mexican States and Canada requires the USMCA or KUSMA, as we call it,
00:01:02.540 Free Trade Commission composed of government representative for each party to conduct a joint review of the agreement on July 1st, 2026.
00:01:09.420 In accordance with the agreement, the United States, Mexico and Canada met virtually today to discuss the operation of Kuzma.
00:01:17.800 The United States did not agree to renew Kuzma in its current form.
00:01:21.800 As a result, the Kuzma is not renewed.
00:01:26.060 The United States will continue to engage with Mexico and Canada to address the agreements, shortcomings and our trade deficits with these countries.
00:01:33.540 However, these agreements remain in force pending resolution of these issues or until agreements are terminated.
00:01:40.780 As previously announced, the United States will meet with Mexico the week of July 20th for a third round of bilateral negotiations related to the Kuzma joint review.
00:01:51.540 All right. Now, from Minister LeBlanc here in Canada.
00:01:55.760 Today, the Honorable Dominic LeBlanc, President of the King's Privy Council for Canada
00:02:00.380 and Minister responsible for U.S.-Canada trade, intergovernmental affairs, internal trade,
00:02:05.440 and one Canadian economy, issued the following statement following the trilateral meeting.
00:02:11.700 Today, I met with my American and Mexican counterparts,
00:02:14.760 the United States Trade Representative Ambassador Jameson Greer
00:02:17.940 and Mexico Secretary of Economy, Marcello Ebrard.
00:02:22.600 They were there to undertake a joint review
00:02:25.160 of the United States-Mexico-Canada agreement,
00:02:29.340 as prescribed in 34.7 of the agreement.
00:02:32.920 In this meeting, I reaffirm Canada's unwavering support
00:02:36.160 for the KUSMA and its renewal.
00:02:39.080 The KUSMA supports millions of jobs across North America
00:02:41.960 and ensures Canadian businesses retain secure
00:02:45.760 and predictable access to two of our most important trading partners.
00:02:49.020 It remains fully in force until 2036 and can be renewed at any time
00:02:54.360 or for another 16-year period.
00:02:58.880 We agreed on the importance of continuing our discussions
00:03:01.740 and identifying ways to ensure trade and investment frameworks
00:03:05.300 between Canada, the United States, and Mexico
00:03:07.280 continue to support North American prosperity and competitiveness.
00:03:11.920 For Canada, this includes substantive discussions
00:03:15.020 with the United States on addressing sectoral tariffs on Canadian steel, aluminum, auto, and lumber.
00:03:21.720 Canada approaches these discussions from a position of strength
00:03:24.560 and with the goal of preserving and strengthening one of the most successful trading relationships in the world.
00:03:31.000 At a time of global economic uncertainty, Canada is a stable, reliable, and trusted partner.
00:03:37.100 We have the energy and natural resources the world needs, a world-class workforce,
00:03:40.800 and a predictable business environment, attracting the highest investment in decades.
00:03:45.900 We look forward to further engagement with the United States and Mexico
00:03:50.120 in the coming weeks and months as we work together to strengthen our shared economic prosperity.
00:03:55.340 Joining me to talk more about this, Kuzma overall.
00:03:58.620 Paul Micucci with an eye on the details financially always.
00:04:02.820 And I'm sorry to take so much of our precious time to read these,
00:04:05.940 but I bet many people did not know what the results were
00:04:09.420 and what the comments were from both sides i wanted to share that yeah thank you mike you
00:04:13.660 know it's interesting and you know the sound bites you get on the local news
00:04:19.420 we get it's going to go on year by year by year and be reviewed so don't worry that is true that
00:04:25.820 is consistently all weekend what we kind of heard through every media outlet in canada it was you
00:04:32.140 know and and we want to get people to the place where they're not panicking so i understand why
00:04:36.860 we're doing that but you know the same issues you know and i i don't think they talk about enough
00:04:41.900 the same issues remain the irritants so you know trump has come out continually he said he wants
00:04:49.260 uh the content for north american cars to be 82 percent for 75 percent he wants 50 of of those
00:04:57.180 cars to be made in the u.s so he's ratcheting up significantly the percentage content of cars
00:05:04.220 he's said you know he wants uh supply management for dairy to go away and that's continuous like
00:05:11.260 and we've said no we haven't even entertained it uh from our prime minister um he's talked about
00:05:19.500 ban on u.s alcohol online digital streaming act um digital rules and you know we have not budged
00:05:29.980 on any of these points so we haven't made particularly great headway to date and this
00:05:35.100 has been going on i took a look and it's interesting and i pulled up a graph i'm going
00:05:39.580 to throw it up on the screen right now okay have a look at that i took a look at the graph mike and
00:05:44.380 it's canadian gdp per quarter right so you know we've talked about this uh recession technical
00:05:51.820 recession they call it but you know if you look at the graph that's up there right now it shows
00:05:57.020 since we started in q1 this discussion on tariffs our economy has been a yo-yo right we've been
00:06:05.340 down up down up and now for the last two quarters we've been negative right yeah i think we only had
00:06:12.460 one positive slightly positive quarter right so i went back you know it was interesting i i dialed
00:06:19.660 back into January of 2025. So when the Trump administration came out and said, you know,
00:06:27.780 our America first trade policies are this. And then Canada came back and said, OK, we're going
00:06:34.180 to have some retaliatory trade tariffs put in place. So that was that happened in February.
00:06:41.400 And then the U.S. came back and announced more tariffs on Canadian goods going up to 10 percent
00:06:48.240 25 percent on most canadian goods there was a pause then in february there was a pause on
00:06:55.840 terrorists we decided to put our swords down um and then again reciprocal terrorists come out in
00:07:02.680 late or mid-february yeah um we then have more retaliatory terrorists coming back from canada
00:07:09.520 in march uh which which basically says the u.s terrorists on canadian goods are now 25 percent
00:07:17.080 And then we issued 25% on some U.S. goods.
00:07:21.260 So we were going tat for tat come March 2025.
00:07:25.820 Then we came up with some exemptions on U.S. tariffs under KUSMA
00:07:30.240 because some of the items we had tariff or the U.S. had tariff were KUSMA compliant.
00:07:35.800 So then that got clarified.
00:07:37.360 then uh we had the u.s put 25 percent uh on u.s or sorry we put 25 percent on u.s steel
00:07:46.900 um that was coming across uh and then march that we did another retaliatory uh tariff from us
00:07:55.220 against the u.s so we've been going back we've been yo-yoing uh yo-yoing back and forth since
00:08:01.240 early 2025 and and this just keeps going you know i could go month for month you know it literally
00:08:08.000 does seem to change every month these tariffs there there's 30 statements from both governments
00:08:14.020 between 2025 till today on tariffs whether they be digital service taxes cancellations effective
00:08:22.140 whether they be uh copper imports you know i'm just scrolling through a few of them it's crazy
00:08:28.300 mike how many we've and i don't think canadians have realized you know we've had furniture lumber
00:08:33.740 timber steel oh yeah aluminum april 3rd 2025 25 on u.s u.s tariffs on auto imports october 14th
00:08:42.460 10 u.s tariffs on softwood lumber 25 u.s tariffs on certain upholstered wooden furniture like you
00:08:48.860 point out kitchen cabinets the very things that we need to create housing in this country if i may
00:08:56.580 November, 25% plus 10% on U.S. tariffs on trucks, truck parts, and buses.
00:09:05.220 Yeah.
00:09:06.000 Well, I thought this was into, I didn't even see this.
00:09:08.160 In June, actually just a few days ago, to tell you the truth,
00:09:12.360 the Office of the United States Trade Representatives, the USTR,
00:09:16.220 announced findings that 60 foreign economies, including Canada,
00:09:19.640 had failed to adequately prohibit and enforce the bans on imports
00:09:23.360 made with forced labor, creating unfair competition.
00:09:28.460 Right.
00:09:29.200 So they even made a statement on that in June.
00:09:31.320 So I didn't even know that happened.
00:09:32.640 So there's been so many statements issued by both governments.
00:09:36.800 Like I said, there's like 30 statements that I've counted here
00:09:39.920 that we've back and forth.
00:09:41.380 And so as we're getting those 30-second sound bites
00:09:43.800 on the news every night,
00:09:46.860 you know it's they're issuing these uh retaliatory terrorists they're issuing these statements it's
00:09:52.380 been to and fro so when you hear about this you think to yourself or when you go and look at the
00:09:57.100 the stats on this how can these two parties