WASHINGTON, Sept. 11 (Reuters) – Mexico and the United States are racing to reach a bilateral trade deal before the U.S. midterm elections in less than eight weeks, according to six sources in both countries familiar with the talks, an effort made more urgent by the collapse of Canadian negotiations with Washington.
“We both want to reach a deal before the midterms,” said one Mexico-based source, who spoke on condition of anonymity to discuss private talks.
The negotiations are aimed at striking an interim bilateral bargain under which Mexico could win relief from some U.S. tariffs while addressing U.S. demands on areas including automotive content and Chinese investment.
While no formal deadline exists, officials in both countries see political benefits in reaching a deal before the November 3 elections when U.S. President Donald Trump’s Republican Party risks losing control of Congress. An accord would enable both leaders to tout a win as they face domestic political challenges.
“Time is of the essence for the Mexican government,” said the Mexican source, citing concerns over a weak economy and falling credit ratings on its debt. The source added that Mexican President Claudia Sheinbaum’s administration, which this week presented its 2027 budget, views a U.S. trade deal as critical to reassuring markets and investors.
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Source: Reuters
