US delays tariffs on Mexico for one month

US President Donald Trump has accepted the Mexican government’s proposal to suspend tariffs for one month. This was first announced Monday by Mexico President Claudia Sheinbaum during her daily press conference, Las Mañaneras del Pueblo, where the actions of the government are analysed.

“We had a good conversation with President Trump, with great respect for our relationship and sovereignty, and reached a series of agreements,” Sheinbaum explains. “Our teams will begin work today on two tracks: security and trade. Tariffs are put on hold for one month from now.”

Mexico will reinforce the border with the US by deploying 10,000 national guard personnel immediately to prevent the trafficking of drugs, particularly fentanyl. The United States commits to working to prevent the trafficking of high-powered weapons into Mexico.

“Mexico's economy is very strong, and we are confident that we will be able to successfully carry out the dialogue and address the trade issues at the joint working tables with the US, and that we will help to overcome the current uncertainty in the financial sector,” Sheinbaum adds.

The announcement, confirmed by the White House, marks a reversal after Trump had not indicated that he would change his stance on imposing tariffs on Mexico. “I don't expect anything too dramatic. We put in tariffs. They (Canada and Mexico) owe us a lot of money and I'm sure they're going to pay,” Trump told the media as he stepped off Air Force One at Joint Andrews Air Force Base on Sunday.

A US-Mexico trade roundtable will be scheduled this week, once it is ratified by the US administration.

Source:Kallanish