3 february: Mexico’s President Claudia Sheinbaum announced that the U.S. has postponed the implementation of tariffs on Mexican goods for a month following her conversation with former U.S. President Donald Trump. The White House has confirmed the delay.
Sheinbaum stated that Mexico will immediately deploy 10,000 National Guard members along the northern border to curb drug trafficking, particularly the flow of fentanyl into the U.S. In return, she noted that the U.S. has agreed to take measures to prevent the trafficking of high-powered firearms into Mexico.
Emphasizing ongoing diplomatic engagement, Sheinbaum said, “Our teams will begin working today on two key areas: security and commerce.”
Trump had initially announced a 25 per cent tariff on all Mexican imports over the weekend, prompting Mexico to warn of retaliatory measures, though specific products were not disclosed. However, just hours before the tariffs were set to take effect, Trump confirmed on social media that they would be put on hold for negotiations.
Trump’s trade measures have already impacted markets, with additional tariffs against Canada and China scheduled to be enforced on Tuesday. Concerns persist over the potential escalation of a broader trade conflict, as Trump has signaled plans for further import taxes.
In a separate development, Trump stated that he spoke with Canadian Prime Minister Justin Trudeau on Monday morning and planned another call with him later in the day. He reiterated his grievances regarding trade relations with Canada, claiming that U.S. banks face restrictions in Canada and tying trade disputes to drug-related concerns at both the Mexican and Canadian borders.
Further updates are expected as negotiations continue.
