President Trump on Thursday said he will pause 25% tariffs on U.S. imports from Mexico that are covered under a 2020 trade agreement, delaying levies imposed on the nation and on Canada earlier this week.
Mr. Trump announced the delay in a social media post after a call with Mexican President Claudia Sheinbaum.
“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,” Mr. Trump wrote, referring to the United States-Mexico-Canada Agreement. He characterized the move “as an accommodation” for the Mexican leader.
“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!” Mr. Trup added.
USMCA is in effect until April 2. The tariffs would take effect when it expires.
Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting.
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