US and Mexico Near Deal to Reduce Steel Tariffs
Mexico and the United States are on the verge of an agreement to lower or eliminate the 50% steel tariffs imposed during the TRUMP administration. Industry officials and sources close to the negotiations indicate that a quota system may be implemented, allowing a specified volume of Mexican steel imports to enter the US duty-free or at a reduced rate. Imports exceeding the quota would still face the full 50% tariff.
Details remain unresolved, including whether in-quota imports will be fully exempt from duties and what the exact volume cap will be. Mexican Economic Minister Marcelo Ebrard has criticized the tariffs as unfair and is pushing for an exemption. Ebrard traveled to Washington for discussions and hinted at a "Plan B" should negotiations fail.
