LatinNews Daily - 22 October 2025

*Mexico’s Economy Minister Marcelo Ebrard has stated that tariff negotiations with the US “are around 90% complete”. Ebrard was speaking outside the lower chamber of congress as the deadline for US President Donald Trump to raise tariffs on Mexican imports from 25% to 30% approaches. Initially set to come into force on 1 August, President Claudia Sheinbaum secured a 90-day postponement for the tariff hike at the end of July. Ebrard said his team had been working on the objective set by Sheinbaum, for Mexico to have a better position relative to other countries, saying they had obtained good results compared to others. He said they had made “significant progress” in terms of the issues being discussed prior to the review of the US-Mexico-Canada Agreement (USMCA), which is due next year, and ahead of the end of the 90-day postponement period, which he noted was “just days away”. Ebrard stated that the structure of the agreement and all procedural and political signs indicate that the USMCA will remain a trilateral deal. President Trump has suggested the US could scrap the deal and replace it with bilateral agreements with Mexico and Canada instead, something which the Mexican government strongly opposes.

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