Trump Says U.S.-Mexico Trade Deal Near Amid Tariff Stalls

The White House announced on Sunday that a new trade agreement between the United States and Mexico is near finalization.

Administration officials stated the deal aims to reduce the U.S. trade deficit, which currently stands at approximately $156 billion for the year. Imports have exceeded exports during this period. President Donald Trump claimed the potential agreement could eliminate the deficit entirely, although specific terms have not been released to the public.

Key sticking points remain as negotiators work through the remaining issues. The congressional delegation from Iowa has formally requested that the White House include provisions to protect the state's pork industry. Meanwhile, Mexican officials are seeking relief from current U.S. tariffs on steel and aluminum products. These divergent priorities have complicated the path to a signed accord.

Mexico’s ambassador to the United States acknowledged that negotiations have stalled in recent weeks. The diplomat expressed continued optimism that an agreement will be reached soon, despite the pause in talks. The timing of the next session remains uncertain, with reports indicating that discussions may not resume until after the midterm elections take place.

The pause in negotiations comes as other trade reviews continue between North American partners. Farm groups are using the ongoing review period to argue for better access to integrated agricultural markets. This context adds pressure to finalize the U.S.-Mexico deal before the next legislative session begins.