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[BUSINESS] · United States, Mexico · 78 sources

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Mexico and US near trade agreement to reduce tariffs

President Donald Trump and Mexican President Claudia Sheinbaum have both indicated that the two nations are close to reaching a commercial agreement. The negotiations are occurring within the context of the USMCA review, following Trump's decision not to automatically renew the pact.

The primary objective of the discussions is to reduce existing tariffs that impact key Mexican export sectors. Currently, the United States imposes 50% tariffs on steel and aluminum and 25% on automobiles. Mexico has expressed interest in lowering the automotive tariff to 15%.

While both leaders expressed optimism, Sheinbaum noted that several issues remain pending. Additionally, Trump has applied pressure regarding US actions against drug trafficking in Mexican territory, a proposal the Mexican government has rejected on the grounds of national sovereignty. Marcelo Ebrard, Mexico's Secretary of Economy, has also stated that drug trafficking remains outside the scope of the USMCA negotiations.

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Claudia Sheinbaum · Donald Trump · Marcelo Ebrard · Mexico · Pemex · USMCA · United States

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