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Trump Trade War - Mexico deal to repeal US Steel Tariffs could be close

Steel News - Published on Thu, 16 May 2019

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Reuters reported that Mexico is closing in on a deal to repeal US President Donald Trump's punitive tariffs on steel and aluminum, a senior Mexican official said that potentially moving a step nearer to the ratification of a major trade deal struck last year. Mexican Economy Minister Graciela Marquez told Canadian broadcaster CBC after meeting with Canadian Foreign Minister Chrystia Freeland in Toronto that "We are, I think, close to negotiating the lifting of the tariffs. We're having very fruitful conversations on lifting the tariffs not only in the US but also here in Toronto."
Mr Adam Austen, a spokesman for Freeland, said the minister noted on Tuesday that it was unwise to predict how long a negotiation would take. He declined to comment further.

Mexico and Canada imposed tariffs on various US products last year in response to Trump's metals duties. The Mexican government says it could soon swap out some goods from its list for others to spread the pain across the U.S. economy.
Earlier, Ms Marquez said a new target list of US products had been completed, and only needed approval from other officials, including President Andres Manuel Lopez Obrador. That process would likely take at least two to three weeks.

Her remarks, and those of a business leader involved in efforts to lift the tariffs and secure passage of the United States-Mexico-Canada Agreement, suggested there may be scope to resolve the spat before fresh tariffs are imposed.

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Posted By : Rabi Wangkhem on Thu, 16 May 2019
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