USTR Greer on meeting with Mexico's economy secretary, says both sides recognized substantial progress in recent months and agreed to continue intensive engagement to address non-tariff barriers

• Agreed to begin formal discussions on possible structural and strategic reforms in the context of the first USMCA joint review.
• Talks on stricter rules of origin for key industrial goods, enhanced collaboration on critical minerals, and increased external trade policy alignment.

The USTR's remarks highlight a positive trajectory in U.S.-Mexico trade relations, specifically addressing non-tariff barriers and potential reforms under the USMCA framework. This is significant for industries reliant on cross-border trade, as it may enhance policy alignment and improve regulatory confidence, potentially impacting market sentiment towards affected sectors and currencies.