US–Mexico tariff talks stall over car and steel rates
Mexico wants a 15% cap on car tariffs, but the US Commerce Secretary is reported to oppose big cuts.
Known
•WSJ reports the talks have stalled (via Reuters). •Current rates are 25% on Mexican cars and 50% on metals. •Mexico seeks a 15% cap on cars (Ebrard).
Not known yet
•Whether a deal will be signed, and when. •What steel rate Mexico would get. •Whether the White House backs Lutnick or Greer.
Progress toward a US–Mexico tariff deal has stalled, The Wall Street Journal reported on 15 October.
Commerce Secretary Howard Lutnick opposed large cuts to the 25% tariff on Mexican cars and the 50% rate on metals, according to the report. Trade Representative Jamieson Greer and Mexico’s Economy Minister Marcelo Ebrard have led the talks. The report says Lutnick’s position has caused tension with Greer.
Ebrard said he expects US cuts on steel and vehicles in the coming weeks or months. He gave no date and no steel rate. Mexico is pushing for no car to pay more than 15%.