Mexico, U.S. want swiftest review of trade agreement, says Mexican minister

MEXICO CITY, Jan. 28 (Xinhua) -- Representatives from Mexico and the United States have made progress on the review of the trilateral free trade agreement, aiming to complete the process "as quickly as possible," Mexican Economy Minister Marcelo Ebrard said Wednesday.

In a social media post, the minister said he met in Washington with U.S. Trade Representative Jamieson Greer to discuss "the next steps" in the process of reviewing the United States-Mexico-Canada Agreement (USMCA) on free trade.

The Office of the United States Trade Representative said in a press release that both sides are ready to negotiate and "begin formal talks on possible structural and strategic reforms" to the trade agreement.

They discussed tariffs on steel and aluminum, the state of the automotive industry, supply chain security, and the future of critical minerals, according to Ebrard.

"We have made progress on many issues beforehand so that the review can proceed as quickly and effectively as possible," the minister explained.

In comparison, Canadian Prime Minister Mark Carney said Monday that Canada is focused on building economic resilience and diversifying trade partnerships to reduce its reliance on the United States.

He characterized U.S. President Donald Trump's recent tariff threat as part of a broader context of trade negotiations with Canada, especially in the lead-up to the upcoming USMCA review.

The three USMCA partners are expected to complete the review of the pact by July 1, according to the agreement's bylaws.

Replacing the 26-year-old North American Free Trade Agreement, the agreement officially took effect on July 1, 2020, and is subject to a six-year review. Enditem