Donald Trump in the Oval Office at the White House, 23 January 2025. Photo: Yuri Gripas – Pool via CNP / MEGA / The Mega Agency
US President Donald Trump has announced that he is postponing the introduction of new tariffs on Mexican imports for one month. The decision came after the Mexican authorities agreed to deploy 10,000 National Guard troops to the northern border to fight illegal migration and drug trafficking, including fentanyl. Trump made the announcement on Truth Social, citing an agreement with Mexican President Claudia Sheinbaum, Reuters reports.
According to Sheinbaum, the agreement also includes a commitment by the United States to work to limit the supply of high-capacity firearms to Mexico. The two leaders spoke on the phone just hours before the tariffs were to take effect for Mexico, China and Canada.
Trump said that additional talks would take place next month, with Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, Commerce Secretary Howard Latnick, and representatives of Mexico.
Markets reacted to the trade tensions, with the S&P 500 index down 1.7% amid concerns about a possible global trade conflict. The European Union could also be affected by the duties, which prompted a strong reaction from EU leaders. French President Emmanuel Macron said that Europe should give a decisive response in case of restrictions, while German Chancellor Olaf Scholz stressed that the parties should seek a compromise.
Trump also hinted that the UK could be exempt from the new duties. Economists warn that such measures could lead to a slowdown in the global economy and higher prices in the US.
