Mexico, US aiming to resolve trade issues before US midterms
According to sources interviewed by Reuters, officials from both sides have expressed eagerness to hammer out a deal on aluminum, steel and automobile tariffs before the U.S. midterm elections in November. The post Mexico, US aiming to resolve trade issues before US midterms appeared first on Mexico News Daily
Trade negotiations between Mexico and the United States are set to commence next week, with both nations aiming to finalize a deal before the U.S. midterm elections in November, according to Reuters. This meeting is believed to be beneficial for both parties, with President Donald Trump seeking a win in the economic domain (a bilateral agreement could potentially lower consumer prices in the U.S.) as he contemplates the potential loss of congressional control on November 3.
The Mexican government is grappling with investor concerns and a stagnating economy, prompting the drive to reach an agreement. The fourth round of talks follows the collapse of U.S.-Canada trade discussions last month, which were seen as part of the larger USMCA review process.
On July 21-23, Economy Minister Marcelo Ebrard journeyed to Washington, D.C., to collaborate with U.S. Commerce Secretary Howard Lutnick on the talks. During her recent conversation with U.S. Commerce Secretary Howard Lutnick, President Sheinbaum evaluated the progress of the negotiations. Upon his return to Mexico City on Friday, Ebrard met with José Medina Mora, president of Mexico’s Business Coordinating Council (CCE), a primary organization representing Mexico’s private sector before federal and local governments.
CCE, comprising 14 major business umbrella organizations representing more than 2,000 trade associations and accounting for roughly 80% of Mexico’s GDP, discussed the elimination of Section 232 tariffs on aluminum, steel, and automobiles as a key focus.
Medina Mora conveyed optimism that the U.S. and Mexico will bypass the complications observed during the U.S.-Canada dialogue and assured that Sheinbaum has established clear boundaries of what is unacceptable while preserving a cordial relationship with Trump. He noted that Sheinbaum's strategy has proven fruitful, and the negotiations are advancing.
President Trump, when asked about the potential withdrawal of the U.S. from the USMCA, communicated his intention to foster a robust relationship with Mexico and a forthcoming agreement with Canada.
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