Progress toward a U.S-Mexico tariff deal has stalled after opposition from Commerce Secretary Howard Lutnick, people familiar with the talks said, the second time that he has had a hand in upending advanced negotiations with a North American partner.
The U.S. and Mexico had been zeroing in on a deal that would reduce U.S. levies on steel, aluminum and automobiles in exchange for a series of concessions from Mexico, these people said, paving the way for further talks on renewing the U.S.-Mexico-Canada Agreement. Mexican officials and many corporate executives expressed optimism that a deal was close, they said.
