WASHINGTON (AP) — President Donald Trump announced that he will delay the implementation of a 25% tariff on most products coming from Mexico for one month.
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He made the decision after having a conversation with the Mexican president.
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Trump’s statement is released following the remarks of his Secretary of Commerce, Howard Lutnick, who mentioned that it is “likely” that tariffs for Canada and Mexico will be postponed.
How many times has Trump changed his mind?
This decision represents the second monthly delay that Trump has communicated since he initially announced tariffs on imports in early February. The postponement would affect products that comply with the trade agreement that the President of the United States established with Canada and Mexico during his first presidential term.
Trump commented on Truth Social: “We are working hard, together, at the border, both in terms of stopping the entry of illegal immigrants into the United States, as well as stopping fentanyl.”
The repeated threats of imposing tariffs by Trump, which have not yet materialized, have caused instability in financial markets, diminished consumer confidence, and plunged many companies into an atmosphere of uncertainty that could slow down hiring and investment.
Lutnick emphasized that the retaliatory tariffs, through which the United States taxes imports from countries that apply tariffs to US exports, will still take place on April 2nd.
The president of Mexico celebrates
Mexico’s president, Claudia Sheinbaum, expressed her satisfaction on Thursday over the recent suspension of the imposition of tariffs on Mexican goods announced by the United States.
“Our work and collaboration have achieved unprecedented results,” she expressed on her social media after talking with Donald Trump and shortly after the American made the announcement.
“We will continue to collaborate, especially on issues related to migration and security, which includes reducing the illegal flow of fentanyl into the United States and weapons into Mexico,” she wrote.
Mexico will be exempt from paying tariffs on products that are part of the United States-Mexico-Canada Agreement, known as USMCA, until April 2nd. On that date, the United States will reveal reciprocal taxes applicable to all nations.
Just like what happened in February, taxes were suspended again, initially in relation to the automotive sector and later in all sectors.
However, unlike the previous occasion, the current movement has caused greater uncertainty and has had impacts on the border, where since Tuesday there has been a significant decrease in the pace of truck crossings.