Trump will delay tariffs on Mexico for a month after talking with Mexican president
Trump will delay tariffs on Mexico for a month after talking with Mexican president
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Trump is still set to impose 25 percent import taxes on Canadian products, a ten percent tax on Canadian petroleum and a 10 percent tax on Chinese imports. President Donald Trump on Monday said he’d delay implementing a 25 percent tax on Mexican imports afterMexican president Claudia Sheinbaum agreed to further militarize her country’s northern border and send a high-level delegation to negotiate next steps.
In a statement posted to his Truth Social platform, Trump said he’d just concluded a “very friendly conversation” with Sheinbaum, who he created with agreeing to dispatch 10,000 soldiers to the US-Mexico border and charge them with halting flows of illicit fentanyl and stopping migrants from heading northward into the US. Trump also said he and Sheinbaum had also agreed that he would delay imposing the import taxes and she would in turn delay any retaliatory tariffs while Mexico and the US stood up what Trump described as a “high-level” dialogue between Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and a Mexican delegation.
He added that he, too, was looking forward to participating in those negotiations with an eye towards what he described as a “deal” between the two countries. The president’s 11th hour announcement comes just one day before he was set to impose the 25 percent tariffs on Mexican and Canadian imported goods, ten precent tariffs on Canadian petroleum products, and add a further ten percent tariff on Chinese imports.
Trump frequently claims that the tariffs he unilaterally imposes are paid by foreign nations, but they are actually paid by American importers and passed on to American consumers in the form of higher costs. The president’s intention to impose what would amount to a massive consumption tax on American consumers has roiled stock markets in the US, which plunged Monday morning in response to his announcement.
