Breakthrough in US-Mexico Trade: Tariff Pause Secured

Mexican President Claudia Sheinbaum announced a temporary halt on new tariffs after a discussion with U.S. President Donald Trump. This move avoids impending 30% tariffs and safeguards the USMCA. The agreement signifies progress towards a long-term trade deal and maintains Mexico’s key access to the U.S. market.

Mexican President Claudia Sheinbaum announced on Thursday that a new agreement halts the imposition of tariffs set to take effect, following a discussion with U.S. President Donald Trump.

The agreement averts 30% tariffs, protecting the U.S.-Mexico-Canada Agreement (USMCA). This ensures that goods under USMCA will remain exempt from Trump's 25% tariffs implemented earlier due to the fentanyl crisis.

Mexican exports continue to benefit from preferential access to the U.S. market, with 85% complying with USMCA's rules of origin. Economy Minister Marcelo Ebrard noted this deal as a critical step towards a sustainable trade agreement.