The Wall Street Journal reports US-Mexico negotiations on a tariff deal have
stalled after U.S. Commerce Secretary Lutnick opposed proposed cuts. Sources say
the two sides were close to an agreement in which the U.S. would reduce tariffs
on steel, aluminum and autos in exchange for Mexican concessions to smooth USMCA
renewal. Lutnick objects to large reductions — including a 25% tariff on
Mexican-made cars and 50% tariffs on steel and aluminum — and to lowering duties
on derivative products (finished goods made from steel and aluminum). Officials
from both countries say talks continue and deny a deadlock.
