NAFTA has shaped North American trade since 1994, now under renewed focus as USMCA negotiations continue and grids of auto and vehicle markets recalibrate.
The USMCA renewal process is under way as the three North American partners weigh changes to the pact. Canada and Mexico seek a 16-year extension, while the United States signals willingness to renegotiate to boost domestic production. Negotiations are ongoing, with no immediate agreement expected, and the fate of tariffs and auto rules remains uncertain.
The United States has declined to renew the US-Mexico-Canada Agreement in its current form and has begun annual reviews instead. Washington has said it will continue talks with Mexico and Canada to address trade deficits and "shortcomings." The pact remains in force and will expire in 2036 unless countries agree changes.
Edmunds’ analysis has identified five strategies to cut the total cost of buying a vehicle. A 3-year-old used car averages $32,553 in June 2026, versus $48,899 for a new one. Buyers are advised to widen search areas, consider financing options, and maximize trade-in value to reduce upfront and long-term costs.