TechFlow, June 11 — According to Jinshi Data, sources reveal that the United States and Mexico are close to reaching an agreement to eliminate Trump’s 50% tariff on steel imports below a certain quantity. Trump has not been directly involved in the negotiations, which have been led by U.S. Secretary of Commerce Lutnick.
The sources said that under current terms, U.S. buyers can import Mexican steel duty-free as long as total shipments remain below levels based on historical trade volumes. The new cap will be higher than that allowed under a similar agreement during Trump’s first term. U.S. Department of Commerce data shows that last year, the U.S. imported approximately 3.2 million tons of steel from Mexico, accounting for 12% of total U.S. steel imports.
During Trump’s first term, the U.S. and Mexico reached an agreement in 2019 to prevent import volumes from exceeding the average levels seen between 2015 and 2017.
