Mexico to Lift Retaliatory Tariffs Under Deal to End US Section 232 Duties

President Donald Trump said May 17 said the U.S. has also reached an agreement with Mexico to drop U.S. Section 232 tariffs. The Mexican government issued a statement that said it would be lifting all its retaliatory tariffs in response. Mexico had targeted U.S. pork, dairy and metals. Mexican President Andres Lopez Obrador noted in the statement that this agreement will allow the countries to move forward with ratifying the new NAFTA, which is known in that country as the Treaty between Mexico, the United States and Canada, or T-MEC, for the Spanish acronym. The Mexican statement did not say how quickly the tariffs and retaliatory tariffs would be lifted. A joint statement from Canada and the U.S. said tariffs would end under a similar agreement within 48 hours.