Mexico President says tariffs with United States paused for a month

Mexican President Claudia Sheinbaum said on Monday that tariffs with the United States are on hold for a month after a conversation with President Donald Trump in which she committed to putting more law enforcement on the US border to stop the flow of drugs.

"Our teams will start working today in two areas: security and commerce," Sheinbaum wrote in a post on X that announced the pause in tariffs.

Trump ordered the 25 per cent tariffs on all Mexican goods over the weekend, with Mexico saying it would respond with tariffs of its own without detailing on what products.

 

As part of the agreement on Monday, Sheinbaum said that Mexico will send 10,000 National Guard troops to the US border to stop drugs, particularly fentanyl, from moving into the United States.

The United States, in turn, promised to work to stop the flow of high powered weapons into Mexico from the US, she said.

The peso, which had been trading down over 1 per cent against the dollars, reversed course after the announcement and traded in positive territory.  (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)