LatinNews Regional Monitor: Mexico - 21 November 2018

* A local think-tank, the Instituto para el Desarrollo Industrial y el Crecimiento Económico (IDIC), has warned that ahead of Mexico signing the new trade agreement with the US and Canada (USMCA), which will replace the North American Free Trade Agreement (Nafta), the issue of US tariffs on Mexican steel and aluminium needs to be resolved. A press release by IDIC notes that the UMSCA is due to be signed by the end of November but tariffs of 25% and 10% for steel and aluminium imports remain in effect for Mexico. IDIC cites Mexico’s economy minister, Ildefonso Guajardo Villarreal, as saying that it would be “very strange” to sign the deal with US tariffs on Mexican steel and aluminium exports still in place.

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