Donald Trump has granted Mexico and Canada a one-month reprieve as a 25 per cent tariff on traded goods is set to be delayed.
Canadian PM Justin Trudeau wrote in a post on X that American tariffs on Canada will be paused for 30 days following a “good call” with Donald Trump.
Trudeau said he will instruct 10,000 soldiers to work on “protecting the border” as part of the agreement with the US President.
He also said he would increase resources to stop the flow of fentanyl heading into the US from Canada.
Sheinbaum said she and President Trump spoke about their common interests
ReutersMeanwhile, Mexican President Claudia Sheinbaum said she had a “good conversation” with the US President and outlined a series of agreements they had reached.
She wrote on X: “We had a good conversation with President Trump with great respect for our relationship and sovereignty; we reached a series of agreements:”
“1. Mexico will immediately reinforce the northern border with 10,000 members of the National Guard to prevent drug trafficking from Mexico to the United States, particularly fentanyl.”
“2. The United States is committed to working to prevent the trafficking of high-powered weapons to Mexico.”
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Trudeau said he will instruct 10,000 soldiers to work on “protecting the border”
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“3. Our teams will begin working today on two fronts: security and trade.”
“4. They are pausing tariffs for one month from now.”
Speaking after her post at a press conference, Sheinbaum said she and President Trump spoke about their common interests and working together on migration.
She added: “We spoke about our common interests. We said that we'd been working together about migration, which worked well. We [also] spoke about the interest that he has, and we have, in reducing the flow of fentanyl and other drugs.”
Sheinbaun said Trump “insisted” on addressing a “trade deficit” between the two countries
Reuters
Sheinbaun said Trump “insisted” on addressing a “trade deficit” between the two countries, saying:
“I told him it's not really a deficit...we're commercial partners,” she adds. “That's the best way to keep competing with China and other regions of the world.”
The Mexican president said the conversation lasted around 30-45 minutes.
Donald Trump confirmed the pause in tariffs, writing on his Truth Social platform: “We [...] agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico.”
This comes after Trump said a levy of 25 per cent on Mexican and Canadian goods as well as 10 per cent on Chinese imports would come into force on Tuesday.
In response, Mexico and Canada vowed to respond with similar tariffs on US goods.
As a result of Trump’s actions, the US stock market has seen a significant fall.
The Dow Jones Industrial Average fell 276.5 points (0.62 per cent), the S&P 500 fell 70.9 (1.17 per cent) and the Nasdaq dropped 412.1 points (2.10 per cent).
