President Trump announced that he will postpone the imposition of tariffs on goods from Mexico for a month, as the parties have reached a number of agreements on border security. Mexican President Claudia Sheinbaum agreed with the Trump administration on delaying the imposition of strict tariffs, which were to take effect on Tuesday, by agreeing to send 10,000 troops to the US border to stop the flow of migrants and drugs.
As The New York Times writes, Mexico will receive at least a temporary reprieve from the 25-percent tariffs announced by Trump on Saturday, as well as assistance from the US government in curbing the movement of weapons across the border, Sheinbaum said on Monday.
The agreement was reached amid concerns that tightening tariffs would disrupt the global economy, leading to a drop in stock markets worldwide. US stocks fell at the opening of trading following declines in Asian and European markets.
Trump signed an order for strict tariffs on imports from Canada, Mexico, and China to take effect on Tuesday, citing the fight against the flow of migrants and drugs, particularly fentanyl. Adding a partial exception for Canadian energy and oil exports, the president acknowledged that his tariffs, affecting countries accounting for more than a third of imported goods, could cause «some pain» to consumers.
Over the weekend, Canada announced retaliatory tariffs of 25 percent on American goods. In 2024, Canada imported these goods worth 30 billion Canadian dollars (about 20 billion US dollars). China vowed to file a lawsuit against the US at the World Trade Organization and take «appropriate countermeasures to resolutely counteract».
Photo: The New York Times