Trump postpones 30% Mexico import tariffs by another 90 days
Photo: US President Donald Trump (Getty Images)
US President Donald Trump has announced a 90-day extension of the temporary tariff agreement with Mexico, amid an approaching deadline for finalizing trade deals, according to Trump's Truth Social.
According to the American leader, he had a very successful conversation today with Mexican President Claudia Sheinbaum.
"The complexities of a deal with Mexico are somewhat different than other nations because of both the problems and assets of the border. We have agreed to extend, for a 90-day period, the exact same deal as we had for the last short period of time," Trump wrote.
According to Trump, Mexico will continue paying a 25% tariff on fentanyl, a 25% tariff on automobiles, and a 50% tariff on steel, aluminum, and copper.
Additionally, Mexico has agreed to "immediately terminate its non-tariff trade barriers, of which there were many."
"We will be talking to Mexico over the next 90 days with the goal of signing a trade deal somewhere within the 90-day period of time, or longer," the US President added.
President Donald Trump imposed tariffs on a wide range of countries back in April.
However, the American leader later paused his decision for 90 days to allow time for negotiations on trade deals.
On July 12, Trump announced the imposition of 30% tariffs on imports from both the European Union and Mexico.
According to the US President, starting August 1, goods imported from the EU and Mexico into the United States would be subject to a 30% tariff.
Trump has already signed a trade deal with the EU, but negotiations with Mexico are still ongoing.
