Mexican President Says US and Mexico Working to Improve Trade Balance
Mexican President Claudia Sheinbaum posted on X on May 1 that she had a very positive conversation with President Donald Trump. In Spanish, she wrote that they agreed that the U.S. treasury and commerce secretaries would continue to work with Mexico's finance and economy ministers on options to improve the trade balance between the two countries and advance outstanding issues.
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Mexico is not subject to reciprocal tariffs, aimed at lowering trade deficits with trading partners. The 25% tariff that its non-USMCA-qualifying goods face was imposed in response to fentanyl smuggling and migration at the Mexico-U.S. border.