We use essential cookies and third-party cookies for content.

The National Times - Canada optimistic North American free trade pact will survive

Canada optimistic North American free trade pact will survive

ECONOMY 26.02.2026
Canada optimistic North American free trade pact will survive
Canada optimistic North American free trade pact will survive / Photo: © AFP

The Canadian official responsible for US trade voiced optimism Thursday about the future of a North American free trade agreement, a pact derided by President Donald Trump and set for review this year.

Change text size:

Dominic LeBlanc, Ottawa's minister for Canada-US trade, also cast doubt on the notion that Trump could ditch the agreement entirely, something the president has reportedly weighed as tension with Canada has mounted.

"I'm not pessimistic about the trilateral framework renewing," LeBlanc told the Canadian Club of Toronto, referring to the United States-Mexico-Canada agreement, which Trump signed and praised during his first term.

LeBlanc noted that when Trump announced new global tariffs last week to replace the levies invalidated by the US Supreme Court, the White House swiftly confirmed USMCA compliant goods would remain tariff exempt.

"They're doing that because it's in the American economic interest to do that," LeBlanc said.

- 'Not a renegotiation' -

Under the originally agreed terms, the USMCA is to be reviewed in July.

Trump has called the deal "irrelevant" and said it was offering "no real advantage" to the United States.

US media have reported that he is considering scrapping the deal while seeking a separate arrangement with Mexico, a plan that has reportedly gained momentum since Canadian Prime Minister Mark Carney delivered a searing critique of US leadership at the World Economic Forum last month.

"The review is not a renegotiation," LeBlanc said, underscoring that the deal does not expire until 2036.

"If there's no consensus in the review, the agreement continues on."

LeBlanc also said that Trump's dismissive rhetoric about the USMCA does not match his trade team's posture.

"There is a public prosecution of the argument, the political argument, in the United States, and there are the private government to government to government conversations which are not discouraging."

LeBlanc said he expected to meet with US Trade Representative Jamieson Greer in Washington next week and believed the United States was ready to be specific about their desired USMCA adjustments.

"We're ready for those conversations," he told the Canadian Club.

Free trade with the United States is crucial to the Canadian economy.

Trump's sector specific tariffs targetings autos, steel, aluminum and lumber have caused significant economic pain in Canada.

But Trump's broad adherence to the USMCA has left about 85 percent of two-way trade tariff-free, sparing Canada from crippling economic turmoil.

Carney was flying to India on Thursday to seek closer trade ties, as part of his strategy to backstop Canada's economy should free trade with the US collapse.

H.Davies--TNT

Featured

The "Everlasting Battery" Inside Your Joints:UConn Professor's Self-Powered Healing Material just Got Acquired

A material that turns your own movement into medicine has just landed a corporate home. PetVivo Holdings (OTCQX: PETV), a veterinary biotech and biomedical device company focused on treating osteoarthritis in dogs and horses, has acquired PiezoBioMembrane (PBM) — a startup built around a biodegradable implant that generates electricity from the everyday force of a joint in motion, and uses that charge to help regrow cartilage from the inside out. The material is the invention of Thanh Nguyen, a professor of mechanical engineering in UConn's College of Engineering, who founded PBM in 2021 to advance new implementation methods for his work with piezoelectric materials — substances that convert mechanical force into electrical energy. These materials are typically ceramics: hard, brittle, and poorly suited for medical use. But Nguyen's lab developed new forms that are so , flexible, and biodegradable, breaking down naturally within the body over time. wound healing, The materials have already shown strong potential across a range of medical applications, including tissue regeneration, implanted force sensors, and targeted drug delivery in tumor treatment. How It Works biodegradable ultrasound for In the case of arthritis, Nguyen explains, the piezoelectric materials function as an off-the-shelf product that can be implanted or injected directly into the ailing joint — with no drugs, chemicals, or cells required. The everyday force exerted on the joint generates a small electrical charge, which helps regrow healthy cartilage, mimicking the body's natural use of electricity to regenerate tissue. "The body can be electrically stimulated to regrow," Nguyen says. PBM's materials "act like a battery — an everlasting battery that works whenever there is a force applied, and vanishes safely inside the body over time." PetVivo's Vision for the Acquisition PetVivo Holdings CEO John Lai expressed enthusiasm for the merger's potential to improve the lives of companion animals globally. "PBM has developed a compelling functional biomaterials platform with the potential to support the development of multiple medical device and therapeutic product lines across both human and animal health markets," Lai said in a press release. "By combining PBM's scientific innovation with PetVivo's product development capabilities, commercialization experience, regulatory expertise, and public company infrastructure, we believe we can accelerate theadvancement of technologies that may serve as the foundation for numerous future products and strategic opportunities." For Nguyen, the deal is a chance to scale technology that could eventually benefit both animals and people. "PetVivo is an animal health company, but they do have a big passion: pushing the technology towards clinical trials for human use," Nguyen says. "That aligned perfectly with my passion for developing technology that has an impact on human life. That is why I am excited about this merger, which facilitates my passion." A Track Record of Innovation Nguyen's research sits at the intersection of medicine, micro/nanotechnology, and biomaterials. His inventions have earned him publications in prominent scientific journals and media coverage from outlets including NPR. Nguyen founded PBM during the COVID-19 pandemic, a er realizing the material he had developed could be used to create an especially effective, biodegradable face mask — one where the mechanical force of breathing generated an electrical charge that provided an extra layer of protection against viruses. PBM is not Nguyen's only venture in the acquisition pipeline. His other startup, Single-Time Microneedles (STM), is also currently undergoing an acquisition process. STM has pioneered stable, efficient vaccine delivery technology in the form of an adhesive patch. shelfNguyen's focus on biodegradable materials has translated into a remarkably diverse range of medical applications. He has received five R01 grants from the National Institutes of Health (NIH) supporting research in cartilage regeneration, bone regeneration, HIV antibody delivery systems, and biodegradable ultrasound technology to boost the effectiveness of chemotherapy for brain cancer. "Whatever we are working on, we want to show that it works very well in vitro and in vivo," Nguyen says. "Then, when we are at the point of commercialization, we set up a startup or license the technology — or maybe team up with an industry partner." Thanh Nguyen is a professor of mechanical engineering in UConn's College of Engineering. (Courtesy of Thanh Nguyen

Octrado introduces its proprietary trading offering: "Your Skill. Our Capital"

Infrastructure, transparent rules and clear legal boundaries positioned as the core of the funded-account model

Could gas prices return to 2022 highs on US-Iran war?

European gas prices have more than doubled owing to the US-Iran war, just as Europe needs to replenish its reserves ahead of winter.

CapTLX Expands Institutional-Oriented Platform for Access to U.S. Capital Markets

CapTLX, the securities trading and investment platform operated by CHAINLION TECH LTD, today announced the continued expansion of its technology infrastructure for qualified investors and institutional market participants seeking structured access to U.S. equity and private capital markets.

Change text size: