Bill and Scott welcome Diego Marroquín Bitar, fellow with the CSIS Americas Program, following the July 1, 2026, USMCA review deadline to discuss the U.S. decision not to renew and the future of the USMCA.

USMCA Review Deadline with CSIS's Diego Marroquín Bitar

The Trade Guys

[SPEAKER_A] I'm Scott.

[SPEAKER_B] I'm Bill. And we're the Trade Guys. You're listening to the Trade Guys, a podcast produced by CSIS, where we talk about trade in terms that everyone can understand. I'm Alex Kisling, and I'm here with Scott Miller and Bill Reinsch, the CSIS Trade Guys.

[SPEAKER_A] This is Trade Guy Scott. Welcome, and thanks for listening to the Trade Guys. This week, Bill and I will speak with a special guest, Diego Marroquín Bitar, who is a Latin America Program Lead at CSIS and an expert on USMCA. Our conversation with Diego will provide an update on the negotiations and our forecast for the future. All that and more on today's episode of The Trade Guys.

[SPEAKER_B] Well, hello everybody. Trade Guy Bill here along with Scott and a special guest. That I'll introduce in just a moment. But first, the nearly weekly refund update, just for those of you that are following that. There was another conference before the court this week. We're recording this on July 2nd, at which CBP indicated that they have now accepted somewhat more than $100 billion in refunds for processing, and that $71 billion of that has been sent over to Treasury for actual payment. This is I think about 3 times the amount that they indicated was accepted for processing the last time they made a report, which was a couple of weeks ago. So things are moving along. Their Phase 2 started on Monday and they've already gotten, I believe, more than 1 million filings under that. The remaining issue, as we've discussed before, is the entries for which liquidation has already been finalized, where Customs is simultaneously making plans to process those refunds.

USMCA Review Deadline with CSIS's Diego Marroquín Bitar

Read the full transcript

The candid version is on a podcast,
not the earnings call.

USMCA Review Deadline with CSIS's Diego Marroquín Bitar

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.