Mexico seeks lower U.S. tariffs on steel and autos

Mexico is conducting parallel negotiations with the United States to reduce tariffs on automotive, steel, and aluminum products. Economy Secretary Marcelo Ebrard stated that Mexico aims to secure an automotive tariff rate lower than 15 percent, seeking parity with the conditions granted to partners like Japan and South Korea.

Additionally, the Mexican government is working to reduce the current 50 percent tariff on steel, which Ebrard described as “very high.” These discussions are being handled separately from the upcoming fourth round of USMCA (T-MEC) reviews scheduled for September in Washington.

Ebrard emphasized the importance of North American regional integration, noting that the high proportion of U.S. components used in Mexican-made goods should be considered when setting tariffs. He also expressed hope for a swift resolution to tensions between the United States and Canada, suggesting that a unified regional production plan is essential for North American trade stability.