{"id":3301,"date":"2025-09-02T12:48:40","date_gmt":"2025-09-02T12:48:40","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/2025\/09\/02\/how-cusma-strengthens-both-u-s-and-canadian-economies\/"},"modified":"2026-03-31T19:19:38","modified_gmt":"2026-03-31T19:19:38","slug":"how-cusma-strengthens-both-u-s-and-canadian-economies","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/","title":{"rendered":"How CUSMA strengthens both U.S. and Canadian economies"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns pad-t-hlf mob-pad-t-hlf pad-b-hlf mob-pad-b-hlf pad-l-hlf mob-pad-l-hlf pad-r-hlf mob-pad-r-hlf has-border-color has-grey-border-color has-rbc-bright-blue-tint-4-background-color has-background is-layout-flex wp-container-core-columns-is-layout-65eef5bf wp-block-columns-is-layout-flex\" style=\"border-width:1px;border-radius:5px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:98%\">\n<div class=\"wp-block-media-text is-stacked-on-mobile is-vertically-aligned-center\" style=\"grid-template-columns:18% auto\"><figure class=\"wp-block-media-text__media\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/08\/AdobeStock_186759403-Converted.png?quality=80&amp;w=1024\" alt=\"\" class=\"wp-image-18366 size-full\" \/><\/figure><div class=\"wp-block-media-text__content\">\n<p id=\"Intro\">Amid the ongoing trade war, the Canada-United States-Mexico Agreement (CUSMA) has been a crucial backstop.<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<p>While product specific tariffs on goods including steel and aluminum, copper, and non-U.S. content in auto products remain, most Canadian exports have continued to cross the border duty free under a broad exemption from tariffs for trade compliant with CUSMA rules of origin.<\/p>\n\n\n\n<p>Preserving that exemption is critically important for Canadian producers and exporters \u2013 and negotiations to extend CUSMA beyond 2036 are scheduled to kick off next year.<\/p>\n\n\n\n<p>While U.S. trade policy remains highly unpredictable, there are good reasons to be hopeful that the CUSMA free-trade agreement could and should remain intact.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/08\/poster1.2.png?quality=80&amp;w=1024\" alt=\"\" class=\"wp-image-18387\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-rbc-bright-blue-tint-1-color has-text-color has-link-color wp-elements-8b38643699a96d9d4b13dd60ed69d9e4\" id=\"h-cusma-provides-reciprocal-duty-free-access-for-the-vast-majority-of-u-s-exports\"><strong>CUSMA provides reciprocal duty-free access for the vast majority of U.S. exports<\/strong><\/h4>\n\n\n\n<p>Mirroring U.S. exemptions, Canada as recently as of September 1 dropped its own 25% retaliatory tariffs on all CUSMA compliant goods imports from the U.S.<\/p>\n\n\n\n<p>The CUSMA agreement was designed to be comprehensive and that goes both ways \u2013 similar to how it has protected most Canadian exports against U.S. tariffs, it also allows duty free access into the Canadian market for the vast majority of U.S. export products.<\/p>\n\n\n\n<p>There are exceptions, including the Canada\u2019s supply-managed dairy sector. But by our count, at least 95% of U.S. goods exports to Canada<sup data-fn=\"f692f279-b375-44ae-9f7e-9e3d9d230d43\" class=\"fn\"><a href=\"#f692f279-b375-44ae-9f7e-9e3d9d230d43\" id=\"f692f279-b375-44ae-9f7e-9e3d9d230d43-link\">1<\/a><\/sup> in 2024 were covered with zero rate duties in the 2020 CUSMA. Of the rest, only 0.3% were explicitly charged with duties, while the remainder mostly fell under Chapter 98 and 99 classifications that cover special trade arrangements and temporary provisions.<\/p>\n\n\n\n<p>U.S. exporters have taken advantage of that access in the past \u2013 Canada was the top export market for 32 U.S. states last year.<\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapsee2941ee2\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapsee2941ee2\" data-dig-id=\"LP-CanadianAnalysis-Insights-3301-e2941ee2\" data-dig-category=\"LP-CanadianAnalysis-Insights\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Footnotes\"><div>Footnotes<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapsee2941ee2\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\"><ol class=\"wp-block-footnotes\"><li id=\"f692f279-b375-44ae-9f7e-9e3d9d230d43\">This calculation is complicated by the fact international HS product codes have been updated since the 2020 USMCA\/CUSMA agreement was signed. By our count, 88% of U.S. exports to Canada in 2024 were in products explicitly listed as duty free under CUSMA, with another 7% accounting for products whose HS codes have changed but are still covered by duty free access. Most of the rest is accounted for goods classified under chapter 99. <a href=\"#f692f279-b375-44ae-9f7e-9e3d9d230d43-link\" aria-label=\"Jump to footnote reference 1\">\u21a9\ufe0e<\/a><\/li><\/ol><\/div>\n<\/div><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-rbc-bright-blue-tint-1-color has-text-color has-link-color wp-elements-41064d8e29c2a296e4b0e005e53123cf\" id=\"h-cusma-exemption-reduces-costs-for-hard-hit-u-s-importers\"><strong><strong>CUSMA exemption reduces costs for hard-hit U.S. importers<\/strong><\/strong><\/h4>\n\n\n\n<p>The flip side of extensive duty-free access for Canadian exporters thanks to CUSMA exemptions is also lower tariff bills for U.S. importers, who already have to pay the highest rate of tariffs since the 1930s, but largely on imports from regions other than Canada.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2025\/08\/chart2.png?quality=80&amp;w=1024\" alt=\"\" class=\"wp-image-18421\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p>Our calculations suggest the average effective U.S. tariff rate that U.S. importers are facing is on pace to rise to 15% under current rules\u2014 a large increase from under 3% last year \u2014 but could further rise to above 20% if CUSMA exemptions are eliminated.<\/p>\n\n\n\n<p>Taking the CUSMA exemptions away will also be particularly bad for U.S. manufacturers that are already hard hit by existing measures \u2013 the U.S. imports disproportionately more industrial products from Canada and Mexico compared with the rest of the world, and less consumer goods.<\/p>\n\n\n\n<p>Already, manufacturing employment in the U.S. is down 100,000 from a year ago in July. And while the national unemployment rate is unchanged year-over-year, it&#8217;s increased by 0.7 percentage points in Michigan, Iowa, and Ohio\u2014states where manufacturing accounts for a high share of GDP. Adding additional tariffs on imports from Canada would make those challenges larger.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-rbc-bright-blue-tint-1-color has-text-color has-link-color wp-elements-b0d040558190bdc33fcdbad940f2de06\" id=\"h-maintaining-cusma-is-critical-for-the-trade-sensitive-u-s-manufacturing-sector\"><strong><strong><strong>Maintaining CUSMA is critical for the trade sensitive U.S. manufacturing sector<\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p>The reality is that decades of free trade in North America have left industrial supply chains incredibly tightly integrated across the borders of the U.S., Canada, and Mexico, with intermediate production inputs often crossing borders multiple times at different stages of production before reaching the final assembly line.<\/p>\n\n\n\n<p>While its boosted efficiency, this level of integration also leaves the manufacturing sector at large a lot more vulnerable to intra-continental trade disruptions, compared to tariffs on offshore trade partners.<\/p>\n\n\n\n<p>After accounting for economic integration, we counted nearly 20% of the value of U.S. manufacturing imports from Canada and Mexico actually originates from U.S. exports earlier in the production process. That makes the U.S. its own fourth-largest source of manufacturing imports, according to OECD data.<\/p>\n\n\n\n<p>As a result, imposing tariffs on U.S. manufacturing imports from Canada and Mexico is essentially equivalent to taxing U.S. exporters and will raise costs across the North American manufacturing sector.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<div id=\"everviz-kD--8X525\" class=\"everviz-kD--8X525\" data-view=\"graph\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<h4 class=\"wp-block-heading has-rbc-bright-blue-tint-1-color has-text-color has-link-color wp-elements-a17dd96b00448eb673b4e85cc4e834fe\" id=\"h-negotiations-to-extend-usmca-cusma-are-a-good-thing\"><strong><strong><strong><strong>Negotiations to extend USMCA\/CUSMA are a good thing<\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p>U.S. trade policy will likely remain highly unpredictable. But the fact that the CUSMA backstop has broadly held through repeated broader rounds of U.S. tariff announcements should serve as an implicit acknowledgement that all parties see value in the agreement.<\/p>\n\n\n\n<p class=\"mar-r mar-b-qtr\">A \u201cjoint review\u201d of the CUSMA agreement is set to begin in 2026 (and could start earlier than that) but the agreement itself does not automatically expire until 2036. The larger, yet-to-materialize concern \u2014 similar to what existed with CUSMA\u2019s predecessor, NAFTA \u2014 is that any country can withdraw from the agreement by providing six months\u2019 notice, no negotiations required.&nbsp;<\/p>\n\n\n\n<p>From that perspective, the fact that both U.S. and Canada have worked to preserve the agreement instead of unilaterally withdrawing from it is a good sign, and so are future negotiations that are designed to start a decade ahead of the actual sunset of the agreement to allow ample time to address concerns.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p class=\"has-text-align-center\"><strong>About the Authors<\/strong><\/p>\n\n\n\n<p><em><strong>Nathan Janzen<\/strong>&nbsp;is an Assistant Chief Economist, leading the macroeconomic analysis group. His focus is on analysis and forecasting macroeconomic developments in Canada and the United States.<\/em><\/p>\n\n\n\n<p><em><strong>Claire Fan<\/strong>&nbsp;is a Senior Economist at RBC. She focuses on macroeconomic analysis and is responsible for projecting key indicators including GDP, employment and inflation for Canada and the US.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>There are good reasons to be hopeful that CUSMA free-trade could and should remain intact.<\/p>\n","protected":false},"author":318,"featured_media":3111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":"[{\"id\":\"f692f279-b375-44ae-9f7e-9e3d9d230d43\",\"content\":\"This calculation is complicated by the fact international HS product codes have been updated since the 2020 USMCA\\\/CUSMA agreement was signed. By our count, 88% of U.S. exports to Canada in 2024 were in products explicitly listed as duty free under CUSMA, with another 7% accounting for products whose HS codes have changed but are still covered by duty free access. Most of the rest is accounted for goods classified under chapter 99.\"}]"},"categories":[83,82,84],"tags":[115,119,24,110],"class_list":["post-3301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canadian-analysis","category-featured-analysis","category-insights","tag-canada","tag-cusma","tag-trade","tag-u-s"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How CUSMA strengthens both U.S. and Canadian economies - RBC Economics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How CUSMA strengthens both U.S. and Canadian economies\" \/>\n<meta property=\"og:description\" content=\"There are good reasons to be hopeful that CUSMA free-trade could and should remain intact.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Economics\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-02T12:48:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-31T19:19:38+00:00\" \/>\n<meta name=\"author\" content=\"viktoriyapanahova\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"viktoriyapanahova\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\"},\"author\":{\"name\":\"viktoriyapanahova\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"headline\":\"How CUSMA strengthens both U.S. and Canadian economies\",\"datePublished\":\"2025-09-02T12:48:40+00:00\",\"dateModified\":\"2026-03-31T19:19:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\"},\"wordCount\":878,\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80\",\"keywords\":[\"Canada\",\"CUSMA\",\"Trade\",\"U.S.\"],\"articleSection\":[\"Canadian Analysis\",\"Featured Analysis\",\"Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\",\"name\":\"How CUSMA strengthens both U.S. and Canadian economies - RBC Economics\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80\",\"datePublished\":\"2025-09-02T12:48:40+00:00\",\"dateModified\":\"2026-03-31T19:19:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80\",\"contentUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80\",\"width\":6134,\"height\":3700},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rbc.com\/en\/economics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How CUSMA strengthens both U.S. and Canadian economies\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/\",\"name\":\"RBC Economics\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea\",\"name\":\"viktoriyapanahova\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g\",\"caption\":\"viktoriyapanahova\"},\"url\":\"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How CUSMA strengthens both U.S. and Canadian economies - RBC Economics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/","og_locale":"en_US","og_type":"article","og_title":"How CUSMA strengthens both U.S. and Canadian economies","og_description":"There are good reasons to be hopeful that CUSMA free-trade could and should remain intact.","og_url":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/","og_site_name":"RBC Economics","article_published_time":"2025-09-02T12:48:40+00:00","article_modified_time":"2026-03-31T19:19:38+00:00","author":"viktoriyapanahova","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80","twitter_misc":{"Written by":"viktoriyapanahova","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#article","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/"},"author":{"name":"viktoriyapanahova","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"headline":"How CUSMA strengthens both U.S. and Canadian economies","datePublished":"2025-09-02T12:48:40+00:00","dateModified":"2026-03-31T19:19:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/"},"wordCount":878,"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80","keywords":["Canada","CUSMA","Trade","U.S."],"articleSection":["Canadian Analysis","Featured Analysis","Insights"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/","url":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/","name":"How CUSMA strengthens both U.S. and Canadian economies - RBC Economics","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage"},"image":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80","datePublished":"2025-09-02T12:48:40+00:00","dateModified":"2026-03-31T19:19:38+00:00","author":{"@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea"},"breadcrumb":{"@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#primaryimage","url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80","contentUrl":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80","width":6134,"height":3700},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/how-cusma-strengthens-both-u-s-and-canadian-economies\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rbc.com\/en\/economics\/"},{"@type":"ListItem","position":2,"name":"How CUSMA strengthens both U.S. and Canadian economies"}]},{"@type":"WebSite","@id":"https:\/\/www.rbc.com\/en\/economics\/#website","url":"https:\/\/www.rbc.com\/en\/economics\/","name":"RBC Economics","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbc.com\/en\/economics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/109dd1bd3c90e818f8159356d46905ea","name":"viktoriyapanahova","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/885bcff339d33080f070ec9cbe77fcf3007653305ae17de7827e19af43e61913?s=96&d=mm&r=g","caption":"viktoriyapanahova"},"url":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"}]}},"author_meta":{"display_name":"viktoriyapanahova","author_link":"https:\/\/www.rbc.com\/en\/economics\/author\/viktoriyapanahova\/"},"featured_img":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80&w=300","jetpack_featured_media_url":"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/\/2025\/06\/Generic-Compressed.png?quality=80","coauthors":[],"tax_additional":{"categories":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/\" class=\"advgb-post-tax-term\">Canadian Analysis<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/featured-analysis\/\" class=\"advgb-post-tax-term\">Featured Analysis<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/featured-analysis\/insights\/\" class=\"advgb-post-tax-term\">Insights<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Canadian Analysis<\/span>","<span class=\"advgb-post-tax-term\">Featured Analysis<\/span>","<span class=\"advgb-post-tax-term\">Insights<\/span>"]},"tags":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/featured-analysis\/insights\/\" class=\"advgb-post-tax-term\">Canada<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/featured-analysis\/insights\/\" class=\"advgb-post-tax-term\">CUSMA<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/featured-analysis\/insights\/\" class=\"advgb-post-tax-term\">Trade<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/economics\/category\/canadian-analysis\/featured-analysis\/insights\/\" class=\"advgb-post-tax-term\">U.S.<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Canada<\/span>","<span class=\"advgb-post-tax-term\">CUSMA<\/span>","<span class=\"advgb-post-tax-term\">Trade<\/span>","<span class=\"advgb-post-tax-term\">U.S.<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 7 months ago","modified":"Updated 4 days ago"},"absolute_dates":{"created":"Posted on September 2, 2025","modified":"Updated on March 31, 2026"},"absolute_dates_time":{"created":"Posted on September 2, 2025 12:48 pm","modified":"Updated on March 31, 2026 7:19 pm"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/3301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/users\/318"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/comments?post=3301"}],"version-history":[{"count":2,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/3301\/revisions"}],"predecessor-version":[{"id":6651,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/posts\/3301\/revisions\/6651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media\/3111"}],"wp:attachment":[{"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/media?parent=3301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/categories?post=3301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/economics\/wp-json\/wp\/v2\/tags?post=3301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}