US and Mexico agree to 90-day extension ahead of tariff deadline, Trump says
By Diana Nerozzi
WASHINGTON — President Trump announced Thursday he will be extending Mexico’s current tariffs for another 90 days, saving the southern neighbor from his impending Aug. 1 deadline.
President Donald Trump speaking at a podium.
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Trump announced an extension to Mexico’s current tariffs Thursday.
AP
Mexico will continue to pay a 25% tariff on all goods as punishment for fentanyl crossing its border, a 25% tariff on cars and a 50% rate on aluminum, copper and steel.
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The announcement came after his phone call with Mexican President Claudia Sheinbaum, and the two will continue to negotiate over the next 90 days, he wrote on Truth Social.
Claudia Sheinbaum speaking at a podium.
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The announcement came after Trump’s call with Mexico’s President Claudia Sheinbaum.
Getty Images
“The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border,” Trump wrote.
“Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many.”
Produce boxes at a Mexican market.
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The extension will save Mexico from its current August 1 deadline.
AFP via Getty Images
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Canada has yet to strike a deal with the US and Trump has indicated the country will likely have to pay the high 35% tariff on all goods crossing the US border starting Friday.
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