The US appeared to step back from progress on a trade deal with Mexico.
US Commerce Secretary Howard Lutnick’s reported insistence that steel, aluminum, and car levies remain in place with Washington’s biggest commercial partner has thrown the negotiations into question.
An expert warned that further undoing the countries’ trilateral free trade agreement with Canada could “jeopardize the financial health” of many American companies, while making US goods more expensive.
Elsewhere, however, trade talks between Washington and New Delhi appeared to be gaining momentum — despite US President Donald Trump imposing 100% tariffs on buyers of Russian oil, of which India is the world’s second-biggest. “The big picture, the big framework, the big items are done,” Washington’s ambassador to India said.
