06:32 GMT +313 December 2018
Listen Live
    In this Thursday, June 28, 2018, file photo senior melt operator Randy Feltmeyer watches a giant ladle as it backs away after pouring its contents of red-hot iron into a vessel in the basic oxygen furnace as part of the process of producing steel at the U.S. Steel Granite City Works facility in Granite City, Ill.

    Mexico Expects US to Lift Steel Tariffs Before New Trade Deal Signed - Reports

    © AP Photo / Jeff Roberson, File
    Latin America
    Get short URL
    0 10

    WASHINGTON, (Sputnik) - Mexico expects that the United States would lift the steel and aluminum tariffs that it had introduced on Mexico before a new trade agreement between the countries is signed, Mexican Ambassador to the United States Geronimo Gutierrez said on Tuesday.

    "It’s the expectation that by the time of the signing [of a new trade agreement] either a solution or a very clear track that gives enough certainty that a solution is coming," Gutierrez said, as quoted by the US newspaper McClatchyDC.

    In late September, the United States, Mexico and Canada agreed on a new trade deal called US-Mexico-Canada Agreement, set to replace the North American Free Trade Agreement (NAFTA), which has been in place since 1994. Since his election in 2016, US President Donald Trump has been calling on the signatories to renegotiate NAFTA for a more advantageous agreement.

    In late March, Washington imposed 25 percent tariffs on steel imports and 10 percent on aluminum imports. In respect to the European Union, Mexico and Canada, this decision was put into effect on June 1

    After the agreement was reached, the leaders of the three countries were given 60 days to sign it. After the deal is signed, it will need to receive approval from the countries' legislative bodies.

    READ MORE: NAFTA Replacement USMCA is Mere ‘Theatrics' — Professor

    Related:

    Trudeau Says Canada Could Ratify New NAFTA Even With US Tariffs on Metals
    Mexico FM: New Agreement Designed to Replace NAFTA Will Not Harm Third Countries
    USMCA: New Name, Same Ole NAFTA; Kavanaugh Probe Day 1; Global De-Dollarization
    NAFTA Replacement USMCA is Mere ‘Theatrics' - Professor
    NAFTA Theatrics and the Coming Recession
    Tags:
    tariffs, aluminum, steel, NAFTA, Mexico, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik