A record-setting number of Canadian executives are heading to Tokyo as the first trilateral review of the Canada-United States-Mexico Agreement (CUSMA) looms. The review meeting is scheduled for July 1, 2026, and has drawn significant business interest from Canada.
Unprecedented Business Delegation
According to a report by CTV News, the delegation of Canadian business leaders heading to Tokyo is the largest ever for such a trade mission. The surge in interest reflects the high stakes of the CUSMA review, which could reshape North American trade dynamics.
Canadian officials have emphasized the importance of strengthening ties with Japan amid uncertainty over the future of CUSMA. The agreement, which replaced NAFTA in 2020, is subject to a mandatory review every six years, with the first review now underway.
Trade Tensions and Opportunities
The review comes at a time of heightened trade tensions globally. Canada is seeking to diversify its trade partnerships, and Japan is seen as a key ally in the Indo-Pacific region. The large Canadian business presence in Tokyo underscores the desire to deepen economic cooperation beyond North America.
“This is a critical moment for Canadian businesses to engage with Japanese counterparts and signal our commitment to the region,” said a trade official familiar with the mission. The official added that the delegation includes executives from sectors such as technology, natural resources, and manufacturing.
Implications for Canadian Economy
The outcome of the CUSMA review could have significant implications for Canadian exporters. Any changes to tariffs or rules of origin could affect industries from agriculture to automotive. Meanwhile, the push into Japan represents a strategic hedge against potential disruptions in North American trade.
Experts note that Canada’s trade relationship with Japan is already substantial, with bilateral trade exceeding $30 billion annually. The current mission aims to build on that foundation, particularly in areas like clean energy and digital commerce.
