US, Mexico Near Deal to Cut Steel Duties and Cap Imports

A worker cuts a stainless steel sheet at a steel manufacturing facility in Mexico City.Photographer: Mauricio Palos/Bloomberg

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The US and Mexico are closing in on a deal that would remove President Donald Trump’s 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term.