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Mexico seeks US trade deal after US-Canada talks break down
Mexican negotiators are trying to reduce proposed US tariffs, including a 50.0% rate on steel and aluminum and 25.0% on cars, while US actions target about US$20 billion of Canadian goods.
Mexico’s President Claudia Sheinbaum said she is optimistic about reaching a trade agreement with US President Donald Trump, after negotiations between the US and Canada collapsed, according to SCMP Economy. Sheinbaum said she and her team hope to secure an agreement with the US as talks proceed in Washington.
Sheinbaum’s top trade negotiator, Economy Minister Marcelo Ebrard, will stay in Washington for several days as he works to reduce proposed US tariffs. The effort focuses on lowering 50.0% tariffs on Mexican steel and aluminum and 25.0% duties on cars.
The breakdown in US talks with Ottawa followed US decisions that include plans to double tariffs on Canadian cars and parts starting next year. It also led to a 50.0% US levy on about US$20 billion of Canadian goods, with Canada announcing retaliatory tariffs scheduled to take effect on September 8, SCMP Economy reported.