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.
On Wednesday, Trump agreed to push back tariffs that would have affected certain vehicles made in North America after speaking with top executives of the “Big three” automakers, Ford, General Motors and Stellantis.
Assuming that Trump moves to push back the Canadian tariffs as signaled by Lutnick, Thursday’s developments will mark the second time the Trump administration has delayed tariff implementation amid negotiations with America’s neighbors since Inauguration Day. The administration first pushed back imposing the duties in early February, agreeing to pause the process in exchange for Mexico and Canada stepping up efforts to secure their borders with the U.S.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].
