Mexico Reports Steel, Aluminum Tariffs Deal with U.S. Nearing
(MENAFN) Mexico and the United States are nearing a resolution over the steep tariffs the U.S. placed on steel and aluminum imports, according to Mexican Economy Minister Marcelo Ebrard, who made the announcement on Tuesday.
Following his appearance at the "Driving Creativity and Mexico's Future" event, Ebrard spoke to reporters, stating that Mexico had laid out multiple arguments in its push to convince U.S. officials to revoke the trade penalties.
"Mexico exports only about 100,000 tons of aluminum to the United States. So why impose such a large tariff?" he questioned.
Ebrard emphasized that negotiations were progressing well and that both nations were "very close" to resolving the matter.
Earlier this month, U.S. President Donald Trump escalated trade tensions by signing an executive order that raised tariffs on imported steel and aluminum from 25% to 50%.
Describing the decision as both "unfair" and "unsustainable," the Mexican government has officially requested an exemption from the increased duties.
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