THE US tariffs against Mexico will be put on hold for a month hours before the 25% tax was scheduled to be implemented on Tuesday
President Donald Trump‘s threats to impose a 25% tariff on Mexico and Canada, and a 10% tariff on China disrupted the global economy, sending stock markets in a tailspin.
President Donald Trump speaks to the press upon arrival at Joint Base Andrews in Maryland on February 2Getty
Leaders in the affected countries scrambled to retaliate after President Trump signed an executive order over the weekend that would allow the tariffs to take effect on Tuesday.
Canada responded by imposing a 25% tariff on more than $100 billion of US goods, while China vowed to file a lawsuit with the World Trade Organization against the United States.
On Monday, Mexican President Claudia Sheinbaum announced her administration and President Trump reached a series of agreements that would delay the tariffs on Mexico for a month.
Sheinbaum said at a news conference that she spoke on the phone with Trump on Monday, describing it as a “long conversation.”
“We had a good conversation with President Trump with great respect for our relationship and sovereignty; we reached a series of agreements,” the Mexican president wrote on X.
Among the series of agreements includes Mexico’s immediate action to reinforce the northern border with 10,000 members of the country’s National Guard.
The bolstered National Guard presence will be tasked with preventing drug trafficking from Mexico to the United States, particularly fentanyl, Sheinbaum said.
The United States said it would commit to work to prevent the trafficking of high-powered weapons into Mexico, the Mexican president said.
“Our teams will begin working today on two fronts: security and trade,” Sheinbaum added.
President Trump said he and his administration will be working with Sheinbaum during the pause to “achieve a deal” between both countries.
“I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States,” Trump said on Truth Social.
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