Mexico’s Sheinbaum says she spoke with Trump as trade negotiations continue

Mexican president says she is looking for a reduction in tariffs as both countries seek new bilateral trade deal.Mexican President Claudia Sheinbaum has said that she had a “very good” phone call with United States counterpart Donald Trump, as the neighbouring countries continue to work towards an agreement on a bilateral trade deal.Speaking during her morning news conference on Friday, the Mexican president said that she spoke with Trump on Wednesday but did not provide additional details.Recommended Stories list of 3 itemslist 1 of 3Mexico’s Sheinbaum says she and Trump agreed to extend trade deadlinelist 2 of 3Canada, Mexico to work together in face of Trump’s US tariff threatslist 3 of 3Mexico’s aerospace sector is growing. Will it be undercut in USMCA review?end of list“Progress is being made toward a potential agreement between us, Mexico, and the United States,” Sheinbaum said, adding that she hopes the deal will result in a decrease in US tariffs on Mexican products.“We are doing everything we can, within the framework of sovereignty, respect, and what is best for Mexico, to reach a deal soon,” she added.Mexico and the US are seeking a bilateral trade deal before the November midterm elections in the US, where many voters attribute higher prices in part to Trump’s imposition of steep import taxes on most trading partners around the world.Sheinbaum said that Mexico hopes to obtain tariff relief for industries such as steel, aluminium, and cars.Mexico and Canada are part of a free trade agreement with the US – known as the USMCA – that has created a high degree of economic integration over the last several decades and exempted the majority of exports from US tariffs.But Trump slapped some of those industries with high tariffs. As a result, Mexico and Canada are now among those scrambling to adjust to the Trump administration’s efforts to reorient US trade relations.