The United States and Mexico are about to reach an agreement on steel tariffs

On June 11th, according to informed sources, the United States and Mexico are about to reach an agreement to lift Trump's 50% tariff on steel imports below a certain quantity. Trump did not directly participate in the negotiations, which were led by US Commerce Secretary Lutnik. The above-mentioned person stated that according to current terms, as long as US buyers control the total shipment volume below the level based on historical trade volume, they can import Mexican steel duty-free. The new limit will be higher than the limit allowed by a similar agreement during Trump's first term. According to data from the US Department of Commerce, the total amount of steel imported by the US from Mexico last year was about 3.2 million tons, accounting for 12% of the total US steel imports. During Trump's first term, the United States and Mexico reached an agreement in 2019 to prevent imports from exceeding the average level of the 2015-2017 period. (Golden Ten)