LatinNews Daily - 21 October 2026

*Mexico’s President Claudia Sheinbaum has said the country is “very close” to reaching a trade agreement with the US government of President Donald Trump but that “there are still some issues”. Sheinbaum said that, for Mexico, the aim of trade negotiations was to “reduce as much as possible” the tariffs currently applied to vehicles, steel, and aluminium and to ensure no further tariffs were imposed. She said that while “there are still matters we haven’t quite resolved” on this front, “the US government has shown a very positive attitude”. She added that Mexico would not negotiate on “anything that violates our constitution or our laws” or on “anything that we know will negatively impact the national economy or employment levels”. Sheinbum concluded that: “We’ve made a lot of progress; we haven’t reached a final agreement yet, but we’ve come a long way.” Sheinbaum was speaking after Trump announced at a political tally in Kansas on 19 October that “Mexico and us are very close to a great deal”, stating this would reduce the US trade deficit with Mexico, which he said stood at around US$150bn. Trade talks are ongoing after the US opted not to extend the US-Mexico-Canada Agreement (USMCA) in July, triggering an ongoing review period.

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