People familiar with the matter said that due to opposition from Secretary of Commerce Howard Lutnick, negotiations on the US-Mexico tariff agreement have come to a standstill. This is the second time he has meddled to disrupt in-depth negotiations with North American partners. People familiar with the matter said that the US and Mexico were about to reach an agreement: the US would lower tariffs on steel, aluminum, and automobiles in exchange for Mexico's many concessions, paving the way for the subsequent restart of negotiations related to the US-Mexico-Canada Agreement. Mexican officials and a number of business executives were previously optimistic that an agreement was within reach. People familiar with the matter said, however, that the progress of negotiations has slowed sharply recently. The focus of the disagreement is on tariffs imposed by the US on vehicles and metals based on national security reasons. The Department of Commerce, which is responsible for implementing such tariffs, is responsible for implementing such tariffs. According to people familiar with the matter, Lutnik opposes a sharp reduction of 25% tariffs on Mexican cars and 50% tariffs on steel and aluminum. On the metal category, he also opposes lowering tariffs on so-called derivative products, that is, products made of steel and aluminum. Local US aluminum companies told the government that lowering the above tariffs would damage local US companies and cause Americans to lose their jobs.
Zhitongcaijing · 1d ago
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People familiar with the matter said that due to opposition from Secretary of Commerce Howard Lutnick, negotiations on the US-Mexico tariff agreement have come to a standstill. This is the second time he has meddled to disrupt in-depth negotiations with North American partners. People familiar with the matter said that the US and Mexico were about to reach an agreement: the US would lower tariffs on steel, aluminum, and automobiles in exchange for Mexico's many concessions, paving the way for the subsequent restart of negotiations related to the US-Mexico-Canada Agreement. Mexican officials and a number of business executives were previously optimistic that an agreement was within reach. People familiar with the matter said, however, that the progress of negotiations has slowed sharply recently. The focus of the disagreement is on tariffs imposed by the US on vehicles and metals based on national security reasons. The Department of Commerce, which is responsible for implementing such tariffs, is responsible for implementing such tariffs. According to people familiar with the matter, Lutnik opposes a sharp reduction of 25% tariffs on Mexican cars and 50% tariffs on steel and aluminum. On the metal category, he also opposes lowering tariffs on so-called derivative products, that is, products made of steel and aluminum. Local US aluminum companies told the government that lowering the above tariffs would damage local US companies and cause Americans to lose their jobs.
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