Mexico and the United States are trying to hammer out a bilateral trade agreement before American voters head to the polls in November, turning what was supposed to be a three-country review process into a two-party sprint.
The USMCA’s mandatory six-year review kicked off in 2026, but Canada has effectively been left on the bench while Mexico City and Washington negotiate directly. Multiple rounds of talks since May have produced what both sides describe as steady progress, with a fourth round scheduled for September in Washington.
What’s actually on the table
The US wants to raise the percentage of North American content required in vehicles sold tariff-free across the continent.
Mexico, for its part, wants relief from Section 232 tariffs on steel, aluminum, and automobiles.
