Mexico, Washington sprint toward bilateral trade deal before US elections
Mexico and the United States are seeking tariff relief and auto-content concessions in a deal officials say could help both leaders claim a political win.
- Mexico and the United States are racing to reach a bilateral trade deal before the U.S. midterm elections in less than eight weeks, an effort made more urgent by the collapse of Canadian negotiations with Washington.
- Under Section 232 national security tariffs, steel faces 50 percent tariffs while vehicles are subject to a 25 percent duty, remaining a major hurdle in current negotiations.
- Automakers believe Mexico could secure a framework featuring a 15 percent vehicle tariff with additional reductions for U.S. content, dropping the effective rate to roughly 7 percent.
- Commerce Secretary Howard Lutnick met virtually with Mexican President Claudia Sheinbaum on Thursday to discuss trade, as officials view reaching a deal before November 3 elections as a political win for both leaders.
- Sheinbaum views a successful trade deal as critical to reassuring investors amid a struggling economy, and her administration remains committed to ongoing dialogue with Washington to finalize an agreement.
21 Articles
21 Articles
Mexico and U.S. Working Faster on Bilateral Trade Agreement to Conclude Before Midterm Election
The missing aspect in all USMCA/CUSMA trade discussions is the simple fact that President Trump and U.S. Trade Ambassador Jamieson Greer would prefer bilateral trade agreements. The reason is simple and is highlighted in all the problems with the three-party USMCA. Two countries can negotiate based on their individual interests; multiple country assemblies get complicated. […]
Mexico and the United States are running out of time to reach a bilateral trade agreement before the mid-term elections in the United States, which will take place in less than eight weeks, according to six sources from both countries, in an effort that has become even more urgent with the failure of Canada's negotiations with Washington. Both of us want to reach an agreement before the mid-term elections, said a source based in Mexico, who spok…
They are rushing to reach a bilateral trade agreement before the mid-term US legislative elections
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