Trump delays Mexico tariffs, keeps region on trade alert
The President of the USA, Donald Trump, announced the postponement of the 25-percent tariffs on goods and services from Mexico covered by the USMCA trade agreement until April 2nd. He made this announcement on Thursday on the Truth Social platform, noting that the decision followed a conversation with the President of Mexico, Claudia Sheinbaum.
It is unclear whether the postponement will also include Canada, which is part of the USMCA agreement. However, President Trump announced that on April 2nd, he plans to implement a new round of tariffs that will also cover other countries and sectors such as automotive, pharmaceuticals, and semiconductors.
Trump noted that the decision to postpone the tariffs results from positive relations with Mexico and a joint effort to combat fentanyl smuggling and migration.
"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. This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum," wrote Trump on social media.
Announcement of tariff removal
Earlier, U.S. Commerce Secretary Howard Lutnick announced on CNBC that Mexico and Canada will be temporarily exempted from tariffs.
— If you lived under Donald Trump’s US, Mexico and Canada agreement, you will get a reprieve from the tariffs now. And if you do choose to go outside of that, you did so at your own risk, and today is when that reckoning comes — said Lutnick.
Experts emphasize that the decision may significantly impact trade tensions in the region. Tariffs on Mexico and Canada have sparked opposition from many American companies and politicians, who fear price increases and negative impacts on the U.S. economy.
On Tuesday, 25-percent tariffs on goods from Mexico and Canada came into effect (with the exception of Canadian energy, where a 10 percent rate applies). Starting March 4th, the USA also introduced additional 10-percent tariffs on products imported from China.
