The US President Donald Trump has postponed the implementation of a 25 percent tariff on most goods from Mexico for a month.
He stated this on the social network Truth Social.
Tariffs will not be imposed on goods that meet the terms of the USMCA, an agreement reached during Trumpʼs first term. However, the tariffs will take full effect on April 2, unless Trump makes a new decision.
Under this agreement, goods can move duty-free between the three countries if they meet certain rules. The goods must be entirely manufactured in North America or substantially processed in North America if they contain components from other countries.
Trump announced the decision after a phone call with Mexican President Claudia Sheinbaum. He did not say whether he would postpone tariffs on Canadian goods that also meet the terms of the trade deal. The tariffs against Canada remain in effect.
Trump also thanked the Mexican president for helping him combat illegal migration and fentanyl smuggling at the border.
- Trump announced plans to impose tariffs on Canadian, Mexican, and Chinese goods on February 2. Allegedly, this was due to illegal migration and drug trafficking that enter the United States through these countries. Canada and Mexico were threatened with tariffs of 25%, and China with 10%. Later, Trump wanted to increase Chinese tariffs by another 10%.
- The tariffs against China went into effect on February 4. At the same time, Trump gave Mexico and Canada a one-month reprieve — until March 4 — to try to resolve the situation. And then he did impose restrictions. The countries responded with mirror tariffs.
- China responded to new tariffs from the United States and increased import duties on a number of American agricultural and food products by 10-15%.
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