President Donald Trump announced Thursday that he will delay for one month the 25% tariffs on Mexican imports covered under the U.S.-Mexico-Canada Agreement (USMCA). The exemption will last until April 2, when Trump has pledged to impose reciprocal tariffs on all nations that tax U.S. imports.
“I did this as an accommodation, and out of respect for, President Sheinbaum,” Trump posted on Truth Social, adding that Mexico is cooperating on border security and fentanyl trafficking.
The USMCA, which Trump signed in 2020, replaces NAFTA and allows certain North American-made products to qualify for tariff exemptions. There was no indication of whether Canada would receive a similar reprieve.
The announcement follows Trump’s Tuesday decision to impose 25% tariffs on Canada and Mexico, as well as a 10% tariff on Chinese goods. His tariff policies have contributed to market volatility, with the Dow, Nasdaq, and S&P 500 seeing losses this week.
Trump has also granted a separate exemption for automakers covered under USMCA, including Ford, GM, and Stellantis.
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