Mexico's Sheinbaum says working towards a trade deal with Trump
SPY•Trade talks, tariffs and political timing
Washington and Mexico City are racing to reach a bilateral trade deal before the November 3 U.S. midterm elections.
While no formal deadline exists, officials in both countries see political benefits in reaching a deal before the elections when U.S. President Donald Trump's Republican Party risks losing control of Congress. An accord would enable both leaders to tout a win as they face domestic political challenges.
The push to reach a deal also comes after trade talks between the United States and Canada collapsed last month, triggering a bitter tit-for-tat tariff dispute.
Sheinbaum said Mexico would seek a reduction in U.S. tariffs on Mexican steel, aluminum, and cars.
Sheinbaum says Mexico is pushing for a deal soon
Mexican President Claudia Sheinbaum said on Friday her government is doing everything in its power to reach a trade deal with the United States soon, following a fruitful call with her U.S. counterpart Donald Trump earlier in the week.
"We are doing everything we can, within the framework of sovereignty, respect, and what is best for Mexico, to reach a deal soon," Sheinbaum said, adding that Wednesday's call with Trump was "very good" and some agreements were reached. She didn't provide further details.
"Progress is being made toward a potential deal," Sheinbaum said during her daily news conference.
