President Donald Trump announced Thursday that he won’t raise tariffs on Mexican goods Friday for 90 days, in hopes that a new trade deal can be arranged.<\/b>
\nJuly 31 President Donald Trump announced Thursday that he won’t raise tariffs on Mexican goods Friday for 90 days, in hopes that a new trade deal can be arranged.
Trump posted to his Truth Social account that he had spoken with Mexican President Claudia Sheinbaum on the phone, in a call he described as \u00ab\u00a0very successful in that, more and more, we are getting to know and understand each other.\u00a0\u00bb
Sheinbaum also spoke of the call Thursday, posting to X that \u00ab\u00a0We had a very good call with the President of the United States, Donald Trump.\u00a0\u00bb
\u00ab\u00a0We avoided the tariff increase announced for [Friday] and secured 90 days to build a long-term agreement through dialogue\u00a0\u00bb, she added.
\u00ab\u00a0The complexities of a deal with Mexico are somewhat different than other nations, because of both the problems, and assets, of the Border\u00a0\u00bb, Trump said. \u00ab\u00a0We have agreed to extend, for a 90 day period, the exact same deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% fentanyl tariff, 25% tariff on cars, and 50% tariff on steel, aluminum, and copper.\u00a0\u00bb
The \u00ab\u00a025% fentanyl tariff\u00a0\u00bb refers to a levy described in an Executive Order Trump put forth in February as applicable to \u00ab\u00a0goods entered for consumption, or withdrawn from warehouse for consumption\u00a0\u00bb from Mexico as a punitive measure based on allegations that Mexico failed \u00ab\u00a0to devote sufficient attention and resources to meaningfully stem the tide of unlawful migration and illicit drugs.\u00a0\u00bb
Trump also said that in return for the 90-day pause, Mexico has agreed to \u00ab\u00a0immediately terminate its non-tariff trade barriers, of which there were many.\u00a0\u00bb
He further noted that there will be \u00ab\u00a0continued cooperation on the border as it relates to all aspects of security, including drugs, drug distribution, and illegal immigration into the United States.\u00a0\u00bb<\/p>\n