Trump Postpones Mexico Tariffs After Discussion With Nation’s Leader

President Donald Trump announced Thursday that he is delaying implementation of tariffs targeting certain Mexican imports.

Trump said that he will push back the 25% tariffs on Mexican imports covered by the existing U.S.-Mexico-Canada Agreement (USMCA), a trade deal between the North American states, for approximately one month in a Thursday post to Truth Social. The looming specter of tariffs targeting Canada and Mexico shook up the stock market this week as investors fretted about their duration and possible economic consequences, but Trump’s announcement and Commerce Secretary Howard Lutnick’s Thursday comments indicate that the tariffs on Mexico and Canada will not be taking hold in the immediate future.

“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement,” Trump wrote in his post. “This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl. Thank you to President Sheinbaum for your hard work and cooperation!”

Lutnick said Thursday on CNBC that he believes Trump will likely announce a similar delay on tariffs cracking down on Canadian products later in the day. However, the 25% tariffs will snap into place in early April if the Trump administration determines that Canadian and Mexican authorities are still not doing enough to stem the flow of fentanyl and narcotics into the U.S., Lutnick said on CNBC.