Ebrard: Steel and Aluminum Tariff Negotiations '90% Near Completion'

• - Marcelo Ebrard, Mexico’s Minister of Economy, announced that trade negotiations with the United States have progressed to about 90%, signaling that an agreement is imminent.

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• - Ebrard noted that the steel and aluminum sectors are the most frequently discussed areas between the two countries, adding that Mexico has already inspected over 1,000 steel mills and suspended facilities that failed to meet standards.

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• - The negotiations stem from former President Trump’s “90-day ultimatum” announced in July, warning that Mexico would face new tariffs of up to 30% unless unfair trade barriers were removed.

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• - Minister Ebrard emphasized that the goal is to resolve major sources of conflict ahead of the scheduled 2026 USMCA review, adding that Mexico aims to ensure no sensitive issues remain on the table when that time comes.