US EditionUS, Mexico Near Deal to Cut Steel Duties and Cap Imports
- Negotiations between the U.S. and Mexico are approaching an agreement scheduled for June 2025 that would lift President Trump’s 50% steel tariffs on imports from Mexico within a specified quota.
- The tariffs, doubled to 50% in early June to protect domestic industry and national security, prompted Mexico to argue they are unjustified due to the U.S. steel trade surplus with Mexico.
- Negotiations led by U.S. Commerce Secretary Lutnick and Mexican Economy Minister Ebrard include a quota allowing duty-free imports below a historical volume, though exact terms remain unsettled.
- In 2024, Mexico’s steel exports to the U.S. dropped 10% to about 3.2 million metric tons, while U.S. steel prices rose from $650 to $1,000 per ton after tariffs, impacting supply chains and jobs on both sides.
- This potential agreement aims to ease trade tensions, foster economic cooperation, and shape North American steel trade, affecting industry, prices, and cross-border supply chains.
22 Articles
22 Articles
U.S. and Mexico Edge Toward Steel Tariff Deal as Trade Imbalance Widens
The United States and Mexico are nearing a deal that would remove President Donald Trump’s 50% tariffs on Mexican steel imports up to a certain volume, according to official statements from both governments and data from the US Department of Commerce. The talks, led by US Commerce Secretary Howard Lutnick and Mexican Economy Minister Marcelo […]
The Columbian
The Billings GazetteUS, Mexico near deal to cut steel duties and cap imports
The U.S. and Mexico are closing in on a deal that would remove President Donald Trump’s 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term. Read more...
The prices of steel and aluminium have risen sharply in the United States since Donald Trump decided to raise tariffs on these products to 50%.The president seems willing to take another step back in his erratic trade policy now.According to Bloomberg agency, the United States and Mexico are about to close an agreement that would eliminate tariffs of 50% on steel imports to a certain volume, according to sources familiar with the matter.Continue…
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