"I was interested in making sure that November 1 didn't arrive without us having communicated and that we were in agreement that our teams were still working, Sheinbaum said in her regular morning press conference, adding that the two countries were aiming to resolve 54 outstanding trade barriers. We're practically closing this issue, she said. Mexico's peso strengthened 0.29 percent to 18.38 per US dollar following Sheinbaum's comments."
"The US agreed in July to pause for 90 days an increase in tariffs on some Mexican goods to 30 percent from 25 percent as the two countries continued talks aimed at reaching a new trade deal. That pause was set to end this week."
"We continue working, and there is no situation in the near future where there could be any special tariff on November 1st, Sheinbaum said. Trump said last week that he was ending trade talks with Canada, with the White House citing frustration with how negotiations had been progressing. When asked how Mexico would react and whether Mexico could negotiate separately with Canada, Sheinbaum said last week, Let's not get ahead of ourselves."
Mexico and the United States agreed to extend a looming trade deadline for a few more weeks to continue negotiations on pending issues. A July agreement paused a planned tariff increase on some Mexican goods from 25 percent to 30 percent for 90 days. The tariff pause was due to expire this week but has been extended while teams work to resolve 54 outstanding trade barriers. Mexico's peso strengthened 0.29 percent to 18.38 per US dollar after the extension announcement. Ongoing plans include projects in electric vehicles, semiconductors, satellites, drones and an artificial intelligence lab. The United States ended separate trade talks with Canada last week, creating regional negotiation uncertainty.
Read at www.aljazeera.com
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