In an important development, Mexican President Claudia Sheinbaum said that US tariffs are poised to be delayed for a month. Indeed, Sheinbaum has reportedly spoken to United States President Donald Trump early Monday, with the commander-in-chief choosing to pause the import tax, according to a Bloomberg report.
The development comes just days after Trump announced new tariffs on Mexia, Canada, and China. Moreover, the decision saw both Mexico and Canada announce a slew of retaliatory action on the US. Alternatively, the announced pause was beneficial to the Mexican peso, as it regained much of its losses.
JUST IN: 🇲🇽 🇺🇸 Mexican President Sheinbaum says tariffs from the United States are delayed for a month after a discussion with President Trump.
— Watcher.Guru (@WatcherGuru) February 3, 2025
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Mexico’s President Speaks with Trump as Tariffs Get Delay
Less than a month into his returning presidency, Donald Trump has sought to make good on his economic policies. He has threatened 100% tariffs on nations that are seeking to abandon the US dollar in international trade. Moreover, he has extended that to other North American nations, announcing extended import taxes on Saturday.
The new US President signed the economic policy that saw new tariffs be levied upon Mexico, Canada, and China. In return, all parties opted to retaliate. Mexican President Claudia Sheinbaum announced tariffs on the US.
Moreover, Canadian Prime Minister Justin Trudeau promised “far-reaching” retaliatory levies, according to a CNN report. Finally, Chain promised to file a complaint with the World Trade Organization (WTO).
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However, that economic policy looks to be getting a pause. Specifically, the Mexican President announced that the US tariffs would be delayed by one month. Indeed, Sheinbaum had reportedly had a conversation with Trump on Monday that led to the decision.
The actions from the US, and in response, have ignited concerns over an impending trade war. Experts note that China is preparing for such a reality considering the United States’ rhetoric in recent weeks.
Trump has anticipated retaliation and included classes in the recent policy. Specifically, he has included an executive action that allows expanded tariffs if a country integrates those same taxes in response. The recent pause is a best-case scenario for all countries. Now, there is hope a resolution, or alternative, can be reached.