Mexico and Washington are rushing to secure a bilateral trade deal before the U.S. midterms, per people tracking the talks. The U.S. envoy indicated Mexico is optimistic about lowering U.S. tariffs by year end. Trade talks remain active as envoy Lutnick visits Mexico.
Canada-U.S. trade relations are strained after 50 percent tariffs took effect and Canada pledged retaliation. Prime Minister Mark Carney has promised to respond. Lutnick's trip to Mexico follows the breakdown with Canada. The bilateral talks continue while the trade dispute with Canada remains unresolved.