Mexico's ambassador to the United States, Roberto Lazzeri, said Thursday he's hopeful about reaching a year-end agreement that would cut US tariffs on Mexican exports such as autos and aluminum. He told Bloomberg Television the two governments are "pretty much aligned with the overall objective." Stressing how tightly the two economies fit together, he added, "Everything in our supply chains is intertwined," and flagged that there are "new investments that are on hold just waiting to see what happens."
Lazzeri argued that US duties applied under Section 232 and Section 301 are skewing markets. And the shifts, he said, are not translating into gains for American producers, with other economies capturing that business instead.
He said US Trade Representative Jamieson Greer is speaking Thursday with Mexico's Economy Minister Marcelo Ebrard, and added that the next round of talks is scheduled for the end of September.
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When a top diplomat says supply chains are intertwined and some investments are pausing while trade terms get sorted, that's a heads up for anyone with exposure to cross-border manufacturing. If talks move toward a deal by year end, keep an eye on the sectors he named - autos and aluminum - as pricing and production plans adjust.
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