Mexico Asks the U.S. to Reconsider Tariffs on Cars, Steel, and Aluminum
Mexico is trying to get the U.S. to lower or revise tariffs on automobiles, steel, and aluminum, which remain one of the main sources of trade tension between the two countries.
On Wednesday, Mexican Economy Minister Marcelo Ebrard met with U.S. Commerce Secretary Howard Lutnick. The talks took place in Chapel Hill, North Carolina, during the G20 Innovation Summit.
Mexican President Claudia Sheinbaum stated that Ebrard is in the U.S. specifically to seek agreements on tariffs. The Mexican Ministry of Economy reported that the parties also discussed broader issues of bilateral trade and the development of technological innovation in the region.
It should be noted that the negotiations are taking place against the backdrop of the upcoming renegotiation of the trade agreement between the U.S., Mexico, and Canada—the USMCA. Mexico City has repeatedly stated that U.S. tariffs on steel and aluminum are unjustified. Mexican authorities also oppose restrictions on the automotive industry.
The Mexican government emphasizes that such measures run counter to the logic of North America’s tightly integrated production chains, where automotive and industrial components may cross the borders of the U.S., Mexico, and Canada several times before the finished product is released.
Source: Reuters.
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