Mexico, US are on horizon to reach new tariffs deal
(MENAFN) Mexico and the United States are nearing a resolution in their negotiations over U.S.-imposed tariffs on Mexican steel and aluminum, according to comments made by Mexico's Economy Minister on Tuesday.
Following his appearance at an event focused on innovation and the country’s future, the minister shared with reporters that Mexico had made a strong case for the removal of these trade duties.
"Mexico exports only about 100,000 tons of aluminum to the United States. So why impose such a large tariff?" he asked.
He further stated that both sides are "very close" to finalizing an agreement on the matter.
The ongoing discussions follow a recent executive order signed by U.S. President Donald Trump, which significantly raised tariffs on steel and aluminum imports from 25 to 50 percent.
In response, the Mexican government labeled the tariff hike as both unfair and unsustainable, indicating that it would actively pursue an exemption.
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