Trump announces 90-day extension of prior trade deal with Mexico
President Trump says he will delay tariffs on Mexico as trade negotiations continue. The announcement comes as countries around the world scramble to negotiate and understand new tariff rates that are set to go into effect on Friday.
Trump said he had a “very successful” conversation Thursday morning with Mexican President Claudia Sheinbaum.
“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 on Truth Social. “We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper.”
Trump also added that Mexico had agreed to “immediately terminate its Non Tariff Trade Barriers.” He did not specify what those barriers are. A March report from the U.S. Trade Representative describes some factors that keep U.S. goods out of Mexico, like delays in getting medical devices and drugs approved.
Trump said the U.S. would hopefully sign a deal with Mexico, currently the U.S.’ largest trading partner, within the 90-day period “or longer.”
Sheinbaum reiterated that the call with Trump was very good in a brief post on X and confirmed the extension. However, she did not address any changes to the non-tariff trade barriers that Trump posted about.
The news comes one day before a broad deadline Trump created to make trade deals worldwide. The Trump administration insisted the Aug. 1 deadline would be firm, but has continued to shift timelines for various agreements and expectations for what the deals would cover. That uncertainty has left many countries in the dark about how or when new rates would go into effect. It has also made planning difficult for U.S. businesses, as they wait to see how tariffs might change.
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