Trump, Sheinbaum Hold Call as US-Mexico Trade Deal Nears

The duelling characterisations of the call — "average" and disagreement over unspecified new topics from one side, "constructive" and a denial that it went poorly from the other — signal that the remaining gaps are political rather than technical, and that neither capital wants to be blamed for a breakdown. For cross-border supply chains and the manufacturing and logistics assets tied to them, the open question is whether those unnamed new topics stay contained or get folded into the final terms, which would extend the negotiation rather than close it.