PREVIEW

Mexico and US Race to Seal Trade Deal Before Midterms. Mexico and the United States are racing to reach a bilateral trade agreement before the U.S. midterm elections on November 3, as both governments see political and economic advantages. The negotiations have gained urgency after trade talks between Washington and Canada collapsed, leaving Mexico keen to avoid a similar confrontation with the Trump administration. Mexico is pursuing a cooperative approach in an effort to secure relief from some U.S. tariffs while protecting its access to the American market. One of the main issues under discussion is the automotive sector, with Washington seeking greater U.S. content in vehicles and components produced in Mexico. The two sides are also negotiating over U.S. tariffs on steel, aluminium and vehicles, which Mexico has criticised as harmful to deeply integrated North American supply chains. Washington has already offered lower automotive tariffs to some other trading partners, and Mexican officials and carmakers are hoping for comparable treatment. President Claudia Sheinbaum sees an agreement as important for strengthening investor confidence at a time when Mexico is facing economic challenges and uncertainty over the future of the USMCA.
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