<h1>President signals possible renegotiation or replacement of USMCA ahead of review, Canada seeks relief from Section 232 tariffs</h1> The U.S. president signaled ambivalence about the future of the United States-Mexico-Canada Agreement, saying it could be renegotiated or replaced with separate deals, while meeting with the Canadian prime minister ahead of next year's USMCA review. Canada sought relief from sector-specific Section 232 tariffs (notably steel and aluminum); officials described talks as positive but ongoing. The comments underscore legal and commercial uncertainty for a trade regime that eliminates most tariffs between the countries, raise the prospect of a six-month termination notice, and highlight potential negotiation of new bilateral or trilateral arrangements.