The Tenuous Future of USMCA

In just a few weeks, the US and Mexico will begin the first bilateral negotiating round to discuss the future of the US-Mexico-Canada Agreement. The initial high-stakes joint review of the trade agreement will take place in July. This performance review, so to speak, is mandated in the initial deal, and if the terms are…

Two Ships Made it Through the Strait. What’s Next?

Yesterday, U.S. Central Command announced that two American-flagged merchant vessels successfully transited the Strait of Hormuz, escorted by guided-missile destroyers that had entered the Persian Gulf as part of what the White House is calling Project Freedom. “American forces are actively assisting efforts to restore transit for commercial shipping,” CENTCOM posted on X. The market’s…