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US, Mexico Near Deal to Cut Steel Duties and Cap Imports
- Negotiations between Mexico and the U.S. are close to finalizing a deal in June 2025 that would lift President Trump’s 50% steel tariffs on Mexican imports, provided shipments stay within a predetermined volume limit.
- The tariffs, doubled to 50% in early June to protect domestic producers and national security, prompted negotiations amid a dispute over trade imbalances and steel market tensions.
- Negotiations between the United States and Mexico, involving top trade officials including the US Commerce Secretary and Mexico’s Economy Minister, are centered on establishing steel import quotas tied to past trade volumes, while also considering Mexico’s claim that tariffs are unwarranted since the US has a larger steel export volume to Mexico.
- In 2024, steel shipments from Mexico to the United States amounted to approximately 3.2 million metric tons, amid rising US steel prices that have increased from $650 to $1,000 per ton following the implementation of tariffs. Meanwhile, Mexican steel producers are boosting their production capacity to capitalize on nearshoring trends, although concerns about potential oversupply persist.
- While the final details of the agreement are still pending, its resolution will influence steel trade across North America, with significant implications for employment, costs, and the flow of materials between the United States and Mexico.
21 Articles
21 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 […]
US, 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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