The Trump administration announced July 1 it would not renew the United States-Mexico-Canada Agreement (USMCA). Rising uncertainty has led businesses that depend on the trade pact to pull back on investment in Texas, experts say. Mexico and Canada are Texas' No. "The problem is for businesses, because a lot of these companies — manufacturers, energy companies — they’ve got long-term plans. “It’d be tough”In 2024, two-way trade between Texas and Mexico came to $281.2 billion, while trade between Texas and Canada came to $69.2 billion.