Mexico economy ministry says working on deal before US tariffs on Aug. 1
Mexico’s economy ministry on Saturday said a bilateral working group aims to reach an alternative to 30% U.S. tariffs before they take effect on August 1.
Mexico was informed by the U.S. that it would receive a letter about the tariffs, the ministry’s statement said, adding that Mexico was negotiating.
President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the key U.S. allies and top trading partners failed to reach a comprehensive trade deal.
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough. Mexico still has not stopped the Cartels who are trying to turn all of North America into a Narco-Trafficking Playground,” Trump wrote.
Mexico sends more than 80% of its total exported goods to the U.S. and free trade with its northern neighbour drove Mexico to overtake China as the U.S.’s top trading partner in 2023.
