Business · Trade · 4 hrs ago

Ebrard says Lutnick supports reducing US tariffs on Mexican goods

Ebrard says Lutnick supports reducing US tariffs on Mexican goods

Mexico’s economy minister Marcelo Ebrard says US Commerce Secretary Howard Lutnick supports lowering tariffs on Mexican goods.

Ebrard said their recent conversations gave him no reason to think Lutnick opposed the cuts, countering a Wall Street Journal report based on anonymous sources.

That report said talks had lost momentum over Lutnick’s opposition, though the two countries had been close to an understanding.

US tariffs include 25% on many steel, aluminum and copper imports, and 25% on Mexican cars and auto parts under Section 232.

Mexico wants the car tariff reduced from 25% to 15%, Ebrard said, while noting that Japan agreed to invest $500 billion in the United States for a similar arrangement.

Ebrard says an existing carve-out exempts about 82% to 85% of Mexican exports from US tariffs.

He said he had not been told Lutnick opposed further reductions, but no next step in the negotiations was specified.

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What people are saying

Marcelo EbrardMexico’s economy secretary
I did not notice that he was against reducing those tariffs, at least as far as I know.
via El Economista MX
In all the other meetings with Lutnick, by Zoom or by phone, he has never told me that he opposes reducing Section 232.
via El Economista MX
I have never heard the secretary Lutnick tell me, nor do I think he maintains, that he is against Mexico having some benefit.
via El Economista MX