Mexico and Washington are rushing 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 are continuing 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 follows the breakdown with Canada. The bilateral talks continue while the trade dispute with Canada stays open.