MNI BRIEF: US Agrees to Pause Tariffs for One Month- Sheinbaum
MNI (BRASILIA) - Mexican President Claudia Sheinbaum said Monday that the U.S. has agreed to pause the implementation of a 25% trade tariff for one month in exchange for stricter border enforcement by Mexico, fueling a recovery in the peso and alleviating concerns ahead of this week’s Banxico meeting.
"We had a good conversation with President Trump, conducted with great respect for our relationship and sovereignty," Sheinbaum said in a post on her official profile on X.
U.S. President Donald Trump imposed a 25% trade tariff on Mexico and Canada, along with an additional 10% on goods and services from China, starting Saturday.
"Tariffs will be put on hold for one month starting now," Scheinbaum wrote, adding that Mexico will immediately deploy 10,000 National Guard members to the northern border and that the U.S. has committed to working to preventing weapons trafficking into Mexico.
"Our teams will begin working today on two key areas: security and trade,” she said. (See MNI INTERVIEW: Banxico Set For Larger Cut That Poses Risks)