Business · Trade · 3 hrs ago
Mexico and US say they are close to a trade deal
Mexico and the United States say they are close to a trade agreement under the USMCA, known in Mexico as the T-MEC.
Mexican President Claudia Sheinbaum said on October 20 that some issues still need to be resolved.
Mexico wants lower tariffs on vehicles, steel and aluminum and assurances that no new tariffs will be imposed.
The US has made proposals, but Mexico says it is seeking terms that put it in a better position.
The agreement matters because it sets rules for trade between the two countries.
Sheinbaum said claims that US President Donald Trump tied a deal to handing over people accused of links to drug traffickers were false.
The two governments' teams are still working toward an agreement, and no final deal has been announced.
Mexican President Claudia Sheinbaum said Mexico and the United States are close to reaching an agreement on the US-Mexico-Canada Agreement.
She said some issues remain unresolved and Mexico wants to reduce tariffs on vehicles, steel and aluminum and prevent new tariffs.
Sheinbaum said the United States has made proposals, while Mexico is seeking changes it considers better for the country.
US President Donald Trump said a deal could help reduce the US trade deficit with Mexico, which he put at $150 billion.
- Who
- Mexican President Claudia Sheinbaum and US President Donald Trump are involved in the negotiations.
- What
- Mexico and the United States say they are close to an agreement on the US-Mexico-Canada Agreement.
- When
- Sheinbaum spoke on October 20, 2026. The sources say the negotiations are ongoing.
- Where
- The talks are between Mexico and the United States.
- Why
- Mexico wants lower tariffs on vehicles, steel and aluminum and assurances against new tariffs. Trump said the United States wants to reduce its trade deficit with Mexico.
Mexico
United States
Tariffs
Mexico
Mexico wants to reduce current tariffs on vehicles, steel and aluminum and avoid new tariffs.
United States
The United States has proposed ways to reduce tariffs, while seeking concessions from Mexico.
Trade balance
Mexico
Mexico says it is seeking changes that put the country in a better position.
United States
Trump said the United States wants to reduce its trade deficit with Mexico to zero.
Sheinbaum said trade was being discussed in calls with Trump and that the teams were continuing to work toward an agreement.
Sheinbaum said Mexico and the United States were close to an agreement but still had issues to resolve.
- Tariffs
- Mexico wants reductions on vehicles, steel and aluminum
- US trade deficit
- Trump said it was $150 billion
- Mexican president
- Claudia Sheinbaum
- US president
- Donald Trump
- Agreement
- US-Mexico-Canada Agreement (USMCA)
5 sources
"México va bien en las negociaciones", dice Ebrard sobre acuerdo del T-MEC; "vamos por buen camino", afirma
Trump no mezcla ‘amenazas’ a cárteles mexicanos con revisión del T-MEC, afirma Ebrard: ‘No le conviene’
Ebrard apunta a la industria automotriz, acero y aluminio como las que “más preocupan” ante falta de acuerdo comercial con EEUU
What people are saying
We are very close, there are still some issues pending. Our objective is to reduce as much as possible the tariffs, the duties, that weigh today on vehicles, steel and aluminum, and not have new tariffs
None of that. He has never used the word narcopoliticians in his conversations. In general, in phone calls we talk about security and trade
What would you say if I told you that the deficit could go down to zero? We are no longer going to lose 150 billion dollars with Mexico!