The United States and Mexico have reached an agreement to pause new tariffs for one month, following discussions between President Donald Trump and Mexican President Claudia Sheinbaum.
The Donald Trump tariffs, which were set to take effect on Tuesday, included a 25% levy on Mexican and Canadian goods and a 10% tariff on Chinese imports. Meanwhile, the cryptocurrency market showed signs of recovery after recent declines.
US and Mexico Reach Temporary Agreement on Tariffs
President Donald Trump announced on Monday that the new tariffs on Mexican goods would be put on hold for a month. The decision followed a conversation with President Sheinbaum, who confirmed that Mexico agreed to send 10,000 soldiers to its northern border to prevent drug trafficking.
Donald Trump stated that negotiations between the two countries would begin immediately, involving Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick.
“We further agreed to immediately pause the anticipated tariffs for a one-month period during which we will have negotiations,” Trump said in an X post.
Sheinbaum also confirmed the agreement on social media, emphasizing that discussions took place with “great respect for our relationship and sovereignty.” She stated that the United States had committed to working on preventing high-powered weapons from entering Mexico.
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