Progress toward a US-Mexico tariff deal has stalled, WSJ reports

US-Mexico tariff negotiations have hit a standstill, according to a Wall Street Journal report, as opposition from Commerce Secretary Howard Lutnick has slowed progress. The talks were reportedly nearing an agreement that would lower US taxes on steel, aluminum, and automobiles in exchange for concessions from Mexico. However, disagreements have emerged over the American duties on vehicles and metals.

Lutnick has been against significant cuts to the 25% tariff on Mexican automobiles and the 50% levies on steel and aluminum. He also opposed reductions in tariffs on finished goods made of steel and aluminum. Mexico's deputy trade minister, Luis Rosendo Gutierrez, told the Journal that negotiations were making progress, while a US Commerce Department spokesperson said the department was continually communicating with Mexico on trade matters.

Neither Mexico’s ministry of economy nor the US Department of Commerce provided immediate responses to Reuters inquiries for further details.