Mexico eyes early trade deal on steel, aluminum, autos ahead of USMCA

Mexico's President Claudia Sheinbaum said on Monday that Mexico is interested in reaching an agreement, prior to completing the review of the U.S.-Mexico-Canada trade pact, regarding the exchange of steel, aluminum and automobiles.

Sheinbaum spoke at a morning press conference as U.S. Trade Representative Jamieson Greer visits Mexico for talks.

"Obviously, we care a great deal about steel, aluminum, and automobiles," Sheinbaum said. "We hope that a preliminary agreement can be reached."

Mexico is a major exporter of vehicles and auto parts, as well as machinery and mechanical equipment, which it sends mainly to the United States.

This year's USMCA review talks are critical for Mexico, which has so far been largely spared the brunt of U.S. tariffs thanks to the bulk of its exports being protected under the North American trade pact.

The U.S. has suggested it will seek to tighten its rules of origin to prevent goods - particularly from China - passing through Mexico in order to enter the U.S. tariff-free.