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Lutnick Blocks Tariff Cuts, Stalling U.S.-Mexico Trade Deal

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Story summary
  • U.S. Commerce Secretary Howard Lutnick opposes cutting the 25% auto tariff, stalling the trade deal.
  • Lutnick also rejects reducing the 50% tariffs on steel and aluminum, including finished products.
  • The United States and Mexico were near an agreement to lower tariffs on steel, aluminum and automobiles.
  • Mexico deputy trade minister Luis Rosendo Gutierrez says negotiations remain in progress.
  • U.S. Commerce Department spokesperson says the agency maintains dialogue with Mexico.