President Donald Trump on Thursday said he would not raise U.S. tariffs on Mexican goods beyond their current levels for 90 days, in order to give the neighboring countries time to strike a trade deal.
Trump recently threatened to raise the blanket tariff rate on Mexican imports to 30%, up from the 25% duty he had previously imposed to address alleged cross-border crime and drug trafficking. Mexico is also exposed to a 25% tariff on auto imports and 50% tariffs on metals commidities.
But Trump said he would postpone any tariff changes after his “very successful” call with Mexican President Claudia Sheinbaum.
“More and more, we are getting to know and understand each other,” Trump said in a Truth Social post.
“The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border,” he wrote.
“We 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.”
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