Progress toward a US-Mexico tariff deal has reportedly stalled
SPY•Progress toward a US-Mexico tariff deal has reportedly stalled after opposition from Commerce Secretary Howard Lutnick, despite Mexico’s deputy trade minister saying negotiations were progressing.
1. Talks slow over tariffs
The US and Mexico had been closing in on a deal to reduce US levies on steel, aluminum and automobiles in return for concessions from Mexico, but disagreements over vehicle and metals tariffs have slowed progress, a report said. Lutnick opposed significant cuts to the 25% tariff on Mexican automobiles and the 50% levies on steel and aluminum, as well as cuts to tariffs on finished steel and aluminum products.
2. Different views on progress
Mexico’s deputy trade minister Luis Rosendo Gutierrez said there was progress in the negotiations. A US Commerce Department spokesperson said the department was in constant dialogue with Mexico on trade.
