Mexico, Canada Diverge in Tariff Relief Hopes After Trade Deal



Josh Wingrove and Michael McKee | Bloomberg

Fresh off signing their trade deal with the U.S., the governments of Canada and Mexico are diverging on the continent’s other trade fight over metals tariffs — with Mexico setting hopes for a deal sooner than Canada. The three countries signed their new deal Friday in Buenos Aires to replace the North American Free Trade Agreement despite U.S. tariffs on steel and aluminum imports remaining in place, along with counter-tariffs from Canada and Mexico. U.S. Trade Representative Robert Lighthizer said talks would continue this week and be split into two tracks: one with Canada, which sells much more of both metals to the U.S., and another with Mexico. Jesus Seade, the Nafta negotiator for Mexico’s new president, has said he hopes for a deal by the end of the year, but Canada isn’t setting any timelines. Instead, it’s holding out for a victory in legal challenges against the tariffs and signaling there may be no quick fix. Read more here