Abolishing 50% tariffs, an agreement will be reached soon...
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Trump was not directly involved in the negotiations, which were led by U.S. Commerce Secretary Lutnik. According to the current terms, Mexican steel can be imported tax-free as long as US buyers control the total shipment volume below the level based on historical trade volume.
The new cap will be higher than the cap allowed by a similar agreement during Trump's first term. According to data from the U.S. Department of Commerce, the total steel imports from Mexico last year were about 3.2 million tons, accounting for 12% of the total steel imports in the U.S.
During Trump's first term, the United States and Mexico reached a deal in 2019 to prevent imports from exceeding the average for the 2015-2017 period.
On June 16, local time, the German Business Daily reported that the European Commission is ready to accept a unified 10% tariff in the United States. According to reports, EU negotiators hope to avoid the U.S. imposing higher tariffs on automobiles, pharmaceuticals and microelectronics through unified tariffs.
The report quoted senior EU negotiator as saying that proposals to the United States will only be made under certain conditions and will not be considered permanent.
The above-mentioned EU negotiator also said that if the United States agrees to lower the tariffs on the EU, the EU will lower the tariffs on U.S. cars and acknowledge some U.S. product standards, including crash testing requirements, make it easier for U.S. manufacturers to sell cars in Europe.
However, an EU spokesperson denied the relevant statement. He said that the relevant reports are "speculation and do not reflect the current negotiation status." at presentTrade negotiations between Europe and the United States are still in progress, and the two sides have not reached an agreement yet.The EU has opposed the "unfair and illegal tariffs" of the United States from the very beginning.
On the 16th local time, Thailand's Commerce Minister Picha said that Thailand will conduct trade negotiations with the United States. He believes that the two sides can reach a good agreement on tariff issues, and the tariffs may be as low as 10%.
Pichai said that the talks are expected to go smoothly. He said Thai and U.S. officials will hold talks via video conference this week, but the date of the ministerial talks has not been determined.
Picha did not elaborate on what will be discussed in the talks, nor did he explain why he believed the tariff levels would be lowered. "Don't worry, we're ready for everything, and the negotiations should be successful," he said. "We are preparing the relevant content in detail, but we can't tell you yet."
