Trump agrees to keep US tariffs on Mexico steady for 90-day period

The United States has announced it volition not summation the tariffs it imposes connected its confederate neighbour, Mexico, aft a telephone with the country’s president, Claudia Sheinbaum.

Her counterpart, US President Donald Trump, broke the quality connected his Truth Social level connected Thursday, touting the determination arsenic a diplomatic breakthrough.

“I person conscionable concluded a telephone speech with the President of Mexico, Claudia Sheinbaum, which was precise palmy successful that, much and more, we are getting to cognize and recognize each other,” Trump wrote.

“The complexities of a Deal with Mexico are somewhat antithetic than different Nations due to the fact that of some the problems, and assets, of the Border.”

He explained that helium and Sheinbaum had agreed to support US tariffs astatine their existent rates for a 90-day period.

Mexico had been 1 time distant from seeing a tariff summation connected August 1. Earlier this month, connected July 11, Trump had threatened connected Truth Social to rise tariffs connected Mexican imports to 30 percent.

That menace was portion of a bid of individualised tariff announcements, published online successful the signifier of letters to US trading partners. One country, Brazil, was slapped with tariffs of 50 percent.

In his missive to Mexico, Trump blamed the state for allowing the synthetic opioid fentanyl to transverse into the US and for failing to tamp down connected transgression cartels that helium accused of “pouring these drugs into our country”.

“Mexico has been helping maine unafraid the border, BUT, what Mexico has done, is not enough,” Trump wrote astatine the time.

“Mexico inactive has not stopped the Cartels who are trying to crook each of North America into a Narco-Trafficking Playground. Obviously, I cannot fto that happen!”

The threatened 30-percent tariff was the aforesaid complaint initially assigned to the European Union, which negotiated a deal with Trump implicit the past week to little the projected tariff rate.

As a effect of Thursday’s announcement, the US volition proceed to enforce a 25-percent tariff connected cars made successful Mexico and 50 percent connected its steel, aluminium and copper products.

There is besides a 25-percent taxation — which Trump has dubbed a “fentanyl tariff” — connected immoderate Mexican imports not covered by an existing escaped commercialized accord, the US-Mexico-Canada Agreement (USMCA).

“Additionally, Mexico has agreed to instantly terminate its Non Tariff Trade Barriers, of which determination were many,” Trump wrote connected Thursday.

“We volition beryllium talking to Mexico implicit the adjacent 90 Days with the extremity of signing a Trade Deal determination wrong the 90 Day play of time, oregon longer.”

Sheinbaum herself posted a message, albeit a shorter one, summarising their telephone and emphasising the continued talks betwixt their 2 governments.

“We had a precise bully telephone with US President Donald Trump,” Sheinbaum wrote. “We avoided the tariff summation announced for time and secured 90 days to physique a semipermanent statement done dialogue.”

Trump had enactment successful spot an August 1 deadline for the tariff hike, but helium has announced a bid of deals successful the lead-up with countries including South Korea, Japan and Indonesia.

Those deals person not avoided tariffs altogether but alternatively person resulted successful little import taxes than the initially announced rates.

Trump has sought to leverage tariffs to promote home manufacturing and trim what helium considers undesirable deficits with US trading partners.

He has besides utilized them to beforehand home argumentation priorities, including by pressuring neighbouring countries similar Mexico to beef up borderline enforcement.

Experts have warned, however, that tariffs connected goods imported into the US could effect successful higher prices for consumers. Trump’s start-and-stop attack to tariffs — announcing them, lone to hold them — has besides spurred fears of instability successful the economy.

Initially, Trump had unveiled idiosyncratic “reciprocal” tariffs connected overseas trading partners successful April. Those tariffs were delayed, and their latest iterations unveiled this month.

Trump, however, has brushed speech concerns, saying his tariff run volition bring the US billions successful taxes.

“I ever accidental ‘tariffs’ is the astir beauteous connection to maine successful the dictionary,” Trump said successful January, ranking arsenic 1 of his favourites, down presumption similar “love” and “religion”.

“Tariffs are going to marque america affluent arsenic hell,” helium added.