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Weekly Report - 30 July 2026 (WR-26-30)
MEXICO: Fresh tariffs as USMCA talks proceed
Mexico and the US concluded a third bilateral negotiation round in relation to the US-Mexico-Canada Agreement (USMCA) on 23 July. These talks, which have persisted despite the US’s refusal to automatically extend the deal for another 16 years [WR-26-27], are aimed at solving pending trade differences. However, the conclusion of the negotiations was overshadowed by the announcement that the US government led by President Donald Trump was applying a fresh 10% tariff on imports from Mexico as part of a wider package affecting 60 economies worldwide. While the administration of President Claudia Sheinbaum has downplayed the significance of these tariffs, the move once again highlights the importance of the USMCA for Mexico and the challenges it faces in upcoming US trade talks.
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