Present Trump and Mexican Pres. Sheinbaum are scheduled to speak this morning. Mexico is set present it tariff proposal one day ahead of the August 1 deadline.

Where Mexico stands now:

  • USMCA‑compliant products → 0% tariffs

  • Non‑originating imports → 25% general tariff

  • Steel → 25%, Aluminum → 10%

  • Autos & auto parts non‑originating → 25%

  • Proposed expansion to 30% starting August 1 (pending legal implementation)

if a deal is done, there will probably have to be some sort of investment in the US, provisions about fentanyl. Trump wants autos made in the US. How that is specifically dealt with I don't know.

Source: Forex Live