MEXICO CITY (Reuters) – Mexican President Claudia Sheinbaum announced on Monday that the implementation of tariffs with the United States will be postponed for a month following discussions with President Donald Trump. Sheinbaum committed to increasing law enforcement presence on the U.S. border to combat drug trafficking during the conversation.
“Our teams will begin working on security and trade initiatives today,” Sheinbaum stated in a post, revealing the halt in tariffs. Over the weekend, Trump had ordered 25% tariffs on all Mexican imports, prompting Mexico to suggest retaliatory tariffs without specifying the affected products.
As part of the agreement reached on Monday, Sheinbaum disclosed that Mexico will deploy 10,000 National Guard troops to the U.S. border to prevent the smuggling of drugs, notably fentanyl, into the United States. She added that the United States has pledged to take measures to curb the illicit flow of high-powered weapons from the U.S. into Mexico.
Following the announcement, the peso, which had initially declined over 1% against the dollar, rebounded and traded positively.
(Reporting by Mexico City Newsroom; Editing by Anthony Esposito and Stephen Eisenhammer)
