Mexico and Washington are moving quickly 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 cutting U.S. tariffs by year end. Trade talks remain active as envoy Lutnick visits Mexico.
Canada-U.S. trade relations have worsened after 50 percent tariffs took effect and Canada pledged retaliation. Prime Minister Mark Carney vowed to respond. Lutnick's trip to Mexico comes after the breakdown with Canada. The bilateral talks move forward while the trade dispute with Canada remains unresolved.