{"id":28634,"date":"2026-07-03T18:21:58","date_gmt":"2026-07-03T18:21:58","guid":{"rendered":"https:\/\/www.rbc.com\/en\/?post_type=rbc_tl&#038;p=28634"},"modified":"2026-07-03T18:22:00","modified_gmt":"2026-07-03T18:22:00","slug":"deal-or-no-deal-whats-next-for-cusma","status":"publish","type":"rbc_tl","link":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","title":{"rendered":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA"},"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<p class=\"wp-block-paragraph\">U.S. President Donald Trump\u2019s refusal to renew the Canada-United States-Mexico (CUSMA) agreement by the July 1<sup>st<\/sup> deadline came as no surprise. But it did usher in a new era for the agreement, one that will include more talks\u2014and even more uncertainty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What does the no deal by the deadline really mean?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>For starters, the deal is not dead:<\/strong> The agreement will require annual reviews for the next decade. So little changes in the near term, as tariff carve outs for Canadian and Mexican goods that comply with CUSMA remain in place. If, however, the three parties do not reach an extension agreement by 2036, the deal expires.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>Will the U.S. withdraw before then?<\/strong> Trump has threatened to do so. But he would need to provide six-months written notice\u2014and, according to the U.S. Senate\u2019s finance committee, requires approval from Congress. As our colleagues in RBC Economics pointed out in their <a href=\"https:\/\/www.rbc.com\/en\/economics\/canadian-analysis\/featured-analysis\/insights\/navigating-the-cusma-joint-review-where-we-go-from-here\/\" target=\"_blank\" data-dig-id=\"LP-28634-5bafbf9e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"latest report\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">latest report<\/a>, \u201cWe continue to view outright termination of CUSMA as unlikely if economic reasoning holds. Exporters\/importers on both sides of the border have a strong incentive to maintain the deal.\u201d<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>What about side deals? <\/strong>The U.S. is expected to push for separate \u201cprotocols\u201d with Canada and Mexico. Canada-U.S. Trade Minister Dominic LeBlanc said his government is open to this path.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The roadblocks:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The U.S. has a long list of irritants, outlined in the 2026 National Trade Estimate report released by the U.S. Trade Representative (USTR) earlier this year. That includes a few often-cited issues\u2014Canada\u2019s supply management system; a lack of market access for American wine, beer and spirits; and the federal government\u2019s Buy Canadian policy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But that\u2019s not all:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>Improved access to Alberta\u2019s power market:<\/strong> The USTR believes there\u2019s been little progress in improving points of access to Alberta\u2019s energy market for Montana energy producers, and that equally priced power generated in Montana is being deprioritized to benefit Alberta power producers.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>Aircraft regulatory approvals take too long: <\/strong>The U.S. said stakeholders raised concerns about the regulatory process and timelines associated with aircraft validation in Canada.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>\u2018Cumbersome\u2019 seed regulations:<\/strong> Canada\u2019s system for importing of seeds, claims the USTR, is \u201cslow and cumbersome and disadvantages U.S. seed and grain exports to Canada.\u201d<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>A lack of IP protection:<\/strong> The USTR put Canada on its Watch List for intellectual property protection and enforcement. It also flagged the poor enforcement of counterfeit or pirated goods at the border and within Canada as a concern, referring specifically to the Pacific Mall in Toronto.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What\u2019s next:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>Negotiations will continue through the summer: <\/strong>The U.S. is meeting with Mexico the week of July 20 for a third round of bilateral negotiations. Mexico may be willing to make concessions, as Claudia Sheinbaum\u2019s government has made the U.S. its top trade priority. Washington and Ottawa have yet to start negotiations.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>Another deadline looms:<\/strong> Section 122 tariffs will expire on July 24 unless Congress extends them, which is unlikely. It\u2019s expected that the Trump administration will instead introduce a new set of tariffs. That\u2019s already spurred an increase in shipping\u2014and <a href=\"https:\/\/www.cbc.ca\/news\/business\/shipping-costs-canada-us-tariffs-9.7255703\" target=\"_blank\" data-dig-id=\"LP-28634-8992ec30\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"shipping rates\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">shipping rates<\/a>\u2014as businesses try to get ahead of a fresh batch of tariffs.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"524\" width=\"1024\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png?quality=80&amp;w=1024\" alt=\"Importers frontloaidng shipments ahead of potential new U.S. tarrifs\" class=\"wp-image-28633\" srcset=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png 4000w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png?resize=300,154 300w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png?resize=768,393 768w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png?resize=1024,524 1024w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png?resize=1536,786 1536w, https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Chart.png?resize=2048,1049 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"wp-block-paragraph\"><strong>Investment uncertainty will dominate: <\/strong>Although the agreement is still in place, the annual reviews will prolong the business uncertainty that is already weighing on investment. Without clarity, businesses are likely to hold off on making critical long-term investment decisions. As Mexico\u2019s economic minister Marcelo Ebrard recently <a href=\"https:\/\/www.nytimes.com\/2026\/07\/01\/business\/economy\/usmca-north-america-trade.html\" target=\"_blank\" data-dig-id=\"LP-28634-632372ee\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"said\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">said<\/a>, \u201cif you drag us into a constant review process, you\u2019re going to choke off investment.\u201d<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/section>\n\n\n\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<h2 id=\"h-what-if-agriculture-supply-outpaces-demand\" class=\"wp-block-heading has-rbc-dark-blue-tint-color has-text-color has-link-color wp-elements-0c070a43ea08c65e253ab980bf9081cb\"><strong>What if agriculture supply outpaces demand?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The urgency to feed 10 billion people by 2050 has long been a central concern in agri-food research and policy. But with fertility rates down and global populations beginning to stabilize, a new <a href=\"https:\/\/fuelingagriculture.com\/wp-content\/uploads\/2026\/06\/The-Report-1.pdf\">S&amp;P Global Energy<\/a> study reframes the long-term question for the ag sector: what if supply outpaces demand?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For certain crop commodities, the rate of demand growth is predicted to slow through 2050, with feed crops especially exposed as growth in per capita meat consumption decelerates toward 0.1% annually.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, crop yields and food production continue to increase. That story rings true for Canada, which has boosted its yields and overall production of most crops considerably since the turn of the millennium. For instance, between 2000 and 2012 annual wheat production did not exceed 30 million tonnes, but had reached nearly 40 million in 2025.<\/p>\n\n\n\n<table class=\"table-swipe wp-block-rbc-responsive-table-block is-style-table-striped\"><thead><tr><th scope=\"col\"><strong>Type of crop<\/strong><\/th><th scope=\"col\"><strong>Average annual yield growth (percent), 2000-2025<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Canola (rapeseed)<\/td><td>3.4<\/td><\/tr><tr><td>Corn for grain<\/td><td>2.1<\/td><\/tr><tr><td>Wheat, all types<\/td><td>3.0<\/td><\/tr><tr><td>Barley<\/td><td>3.3<\/td><\/tr><\/tbody><\/table>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Source: Statistics Canada. Table 32-10-0359-01\u00a0 Estimated areas, yield, production, average farm price and total farm value of principal field crops, in metric and imperial units<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If such annual yield increases continue from 2026 to 2050 \u2014 and seeded acres remain constant \u2014wheat and canola output would grow by tens of million tonnes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although an absolute reduction in food consumption is not expected, when slowing population growth contrasts with continued gains in ag outputs, a gap could pose structural challenges for the export market\u2019s long-term health and profitability. Rising demand for biofuels and alternative markets may take some of that surplus, but Canada will need to continue enhancing its efficiency while working to differentiate itself from other major crop exporting countries. Emphasizing the quality of Canada\u2019s exports and its dependability as a trade partner can help preserve its reputation as a preferred supplier.<\/p>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Contributors: <\/strong>Alicja Siekierska, Farhad Panahov, Wilson Fink<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What does the no deal by the deadline really mean for North American trade<\/p>\n","protected":false},"author":337,"featured_media":28631,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"disable_focal_point":true,"featured_image_focal_point":{"x":0.5,"y":0.5},"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","editor_notices":[],"footnotes":""},"rbc_tl_category":[198,207],"rbc_tl_tag":[],"class_list":["post-28634","rbc_tl","type-rbc_tl","status-publish","has-post-thumbnail","hentry","rbc_tl_category-the-trade-hub","rbc_tl_category-the-trade-zone"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Trade Zone: Deal or no deal? What\u2019s next for CUSMA - RBC<\/title>\n<meta name=\"description\" content=\"What does the no deal by the deadline really mean for North American trade\" \/>\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\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade Zone: Deal or no deal? What\u2019s next for CUSMA\" \/>\n<meta property=\"og:description\" content=\"What does the no deal by the deadline really mean for North American trade\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-03T18:22:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Branded-1200x627-1.jpg?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"1306\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" 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\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\"},\"author\":{\"name\":\"daneilkwan\",\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/#\\\/schema\\\/person\\\/2923513c926ada6bb07d1dd8d0c8f342\"},\"headline\":\"Trade Zone: Deal or no deal? What\u2019s next for CUSMA\",\"datePublished\":\"2026-07-03T18:21:58+00:00\",\"dateModified\":\"2026-07-03T18:22:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\"},\"wordCount\":916,\"image\":{\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/03\\\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\",\"url\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\",\"name\":\"Trade Zone: Deal or no deal? What\u2019s next for CUSMA - RBC\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/03\\\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80\",\"datePublished\":\"2026-07-03T18:21:58+00:00\",\"dateModified\":\"2026-07-03T18:22:00+00:00\",\"description\":\"What does the no deal by the deadline really mean for North American trade\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/03\\\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80\",\"contentUrl\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/03\\\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80\",\"width\":7250,\"height\":3500,\"caption\":\"Trade Zone: Deal or no deal? What\u2019s next for CUSMA\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/\",\"name\":\"RBC\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/?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\\\/#\\\/schema\\\/person\\\/2923513c926ada6bb07d1dd8d0c8f342\",\"name\":\"daneilkwan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/59a67da8063b5cbecae3120d31587a641879ecd24a4e857254000bc8bb2d9dcc?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/59a67da8063b5cbecae3120d31587a641879ecd24a4e857254000bc8bb2d9dcc?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/59a67da8063b5cbecae3120d31587a641879ecd24a4e857254000bc8bb2d9dcc?s=96&d=mm&r=g\",\"caption\":\"daneilkwan\"},\"url\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/author\\\/daneilkwan\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA - RBC","description":"What does the no deal by the deadline really mean for North American trade","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\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","og_locale":"en_US","og_type":"article","og_title":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA","og_description":"What does the no deal by the deadline really mean for North American trade","og_url":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","og_site_name":"RBC","article_modified_time":"2026-07-03T18:22:00+00:00","og_image":[{"width":2500,"height":1306,"url":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Branded-1200x627-1.jpg?quality=80","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/#article","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/"},"author":{"name":"daneilkwan","@id":"https:\/\/www.rbc.com\/en\/#\/schema\/person\/2923513c926ada6bb07d1dd8d0c8f342"},"headline":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA","datePublished":"2026-07-03T18:21:58+00:00","dateModified":"2026-07-03T18:22:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/"},"wordCount":916,"image":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","url":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","name":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA - RBC","isPartOf":{"@id":"https:\/\/www.rbc.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/#primaryimage"},"image":{"@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80","datePublished":"2026-07-03T18:21:58+00:00","dateModified":"2026-07-03T18:22:00+00:00","description":"What does the no deal by the deadline really mean for North American trade","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/#primaryimage","url":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80","contentUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80","width":7250,"height":3500,"caption":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA"},{"@type":"WebSite","@id":"https:\/\/www.rbc.com\/en\/#website","url":"https:\/\/www.rbc.com\/en\/","name":"RBC","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbc.com\/en\/?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\/#\/schema\/person\/2923513c926ada6bb07d1dd8d0c8f342","name":"daneilkwan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/59a67da8063b5cbecae3120d31587a641879ecd24a4e857254000bc8bb2d9dcc?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/59a67da8063b5cbecae3120d31587a641879ecd24a4e857254000bc8bb2d9dcc?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/59a67da8063b5cbecae3120d31587a641879ecd24a4e857254000bc8bb2d9dcc?s=96&d=mm&r=g","caption":"daneilkwan"},"url":"https:\/\/www.rbc.com\/en\/author\/daneilkwan\/"}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Trade Zone: Deal or no deal? What\u2019s next for CUSMA","url":"http:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/deal-or-no-deal-whats-next-for-cusma\/"},"thumbnailUrl":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"daneilkwan"}],"creator":["daneilkwan"],"publisher":{"@type":"Organization","name":"RBC","logo":""},"keywords":[],"dateCreated":"2026-07-03T18:21:58Z","datePublished":"2026-07-03T18:21:58Z","dateModified":"2026-07-03T18:22:00Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Trade Zone: Deal or no deal? What\\u2019s next for CUSMA\",\"url\":\"http:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbc.com\\\/en\\\/thought-leadership\\\/the-trade-zone\\\/deal-or-no-deal-whats-next-for-cusma\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/03\\\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbc.com\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/03\\\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"daneilkwan\"}],\"creator\":[\"daneilkwan\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC\",\"logo\":\"\"},\"keywords\":[],\"dateCreated\":\"2026-07-03T18:21:58Z\",\"datePublished\":\"2026-07-03T18:21:58Z\",\"dateModified\":\"2026-07-03T18:22:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbc.com\/p.js"},"featured_img":"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/TZ-7.03-Banner-Image_Banner-wide.jpg?quality=80&w=1024","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbc.com\/en\/author\/daneilkwan\/","display_name":"daneilkwan"},"relative_dates":{"created":"Posted 4 hours ago","modified":"Updated 4 hours ago"},"absolute_dates":{"created":"Posted on July 3, 2026","modified":"Updated on July 3, 2026"},"absolute_dates_time":{"created":"Posted on July 3, 2026 6:21 pm","modified":"Updated on July 3, 2026 6:22 pm"},"featured_img_caption":"","tax_additional":{"rbc_tl_category":{"linked":["<a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-hub\/\" class=\"advgb-post-tax-term\">The Trade Hub<\/a>","<a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/the-trade-zone\/\" class=\"advgb-post-tax-term\">The Trade Zone<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">The Trade Hub<\/span>","<span class=\"advgb-post-tax-term\">The Trade Zone<\/span>"],"slug":"rbc_tl_category","name":"Categories"},"rbc_tl_tag":{"linked":[],"unlinked":[],"slug":"rbc_tl_tag","name":"Tags"}},"series_order":"","_links":{"self":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl\/28634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl"}],"about":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/types\/rbc_tl"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/users\/337"}],"version-history":[{"count":3,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl\/28634\/revisions"}],"predecessor-version":[{"id":28637,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl\/28634\/revisions\/28637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/media\/28631"}],"wp:attachment":[{"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/media?parent=28634"}],"wp:term":[{"taxonomy":"rbc_tl_category","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl_category?post=28634"},{"taxonomy":"rbc_tl_tag","embeddable":true,"href":"https:\/\/www.rbc.com\/en\/wp-json\/wp\/v2\/rbc_tl_tag?post=28634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}