TRUMP ‘BACKTRACKS’ ON TARIFFS
The President of the United States, Donald Trump, pauses 25% tariffs on mexican imports entering US until April 2.
After a 45 minute phone conversation with Claudia Sheinbaum this Thursday morning, Donald Trump decided to postpone, again, the tariffs on mexican imports until next April 2.
The President of the United States made his decision after the customs tariffs, which had come into effect on March 4, caused nervousness in stock markets, companies and consumers in both countries.
“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd. I did this as an accommodation, and out of respect for President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl. Thank you to President Sheinbaum for your hard work and cooperation!", Trump announced on Truth Social network.
Sheinbaum thanked Trump for the one-month extension on tariffs and assured that the relationship has always been respectful on both sides.
"We had an excellent and respectful call in which we agreed that our work and collaboration have yielded unprecedented results, within the framework of respect for our sovereignties. We will continue to work together, particularly on migration and security issues, which include reducing the illegal crossing of fentanyl into the United States, as well as weapons into Mexico. As mentioned by President Trump, Mexico will not be required to pay tariffs on all those products within the T-MEC. This agreement is valid until April 2, when the United States will announce reciprocal tariffs for all countries", Sheinbaum said.
She added that at the beginning of the conversation, Trump was seeking to maintain the 25% tariffs, but she made him accept a pause.
"At first he proposed that the tariffs remain, there was a dialogue. I continued to inform him of many things we have done in Mexico in relation to security, including the decision made by the Security Council, regarding the 29 persons deprived of liberty who were sent to the United States," she said, "I presented him with the results we have had this month in relation to the decrease in the crossing of fentanyl from Mexico to the United States."
On March 4, the United States had applied additional tariffs on imports from Mexico. 25% for all products, except donations and informational materials.
These tariffs applied to goods entered/withdrawn for consumption, were added to those in force and included goods from the T-MEC. In addition, there was no refund or drawback for these tariffs and the minimis exemption remained.
The US also applied 25% tariffs for imports from Canada, excepting 10% for energy resources, such as oil, gas and critical minerals. Excluding donations and informational materials.
References:
https://www.milenio.com/politica/noticias-de-llamada-de-sheinbaum-y-trump-por-aranceles-en-vivo
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