And Mexico Conclude First Bilateral Round of USMCA Review

The first bilateral round of the USMCA Joint Review between the United States and Mexico has concluded, signaling progress on shared goals including automotive rules of origin, steel and aluminum, and economic security. Officials noted a focus on regulatory alignment to strengthen sectors such as medical devices, pharmaceuticals, and cosmetics, with next discussions planned for June 16-17 in Washington, D.C., and a third round scheduled for the week of July 20 in Mexico City. The parties stressed that the agreement should benefit U.S. manufacturers, farmers, workers, and businesses while addressing concerns about free-riding by third countries. Observers highlighted Europe’s existing auto investments in Mexico and the potential shift from trilateral to bilateral framing, particularly around a 50 percent U.S.-origin content threshold for cars, replacing the former 70 percent North American benchmark. The talks aim to recalibrate supply chains amid evolving regional dynamics and auto sector priorities.