Aug. 1 was the deadline set by President Donald Trump for foreign nations to reach new trade deals with the U.S., or else they would feel the full effect of the reciprocal tariffs he announced earlier in the year.
On Thursday, less than 24 hours before that deadline, Trump revealed that he had granted Mexico a 90-day reprieve from the new tariffs, with an extension of a previous temporary agreement, to allow negotiations on a new deal to continue, Breitbart reported.
The last-minute delay of Mexico’s reciprocal tariffs for another 90 days followed a “very successful” phone call Trump held Thursday morning with Mexican President Claudia Sheinbaum.
90-day extension granted
“I have just concluded a telephone conversation with the President of Mexico, Claudia Sheinbaum, which was very successful in that, more and more, we are getting to know and understand each other,” President Trump wrote in a Truth Social post. “The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border.”
“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,” he continued. “Additionally, Mexico has agreed to immediately terminate its Non-Tariff Trade Barriers, of which there were many.”
“We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer,” Trump said, and proceeded to name more than half a dozen senior administration officials who participated in the discussion with Mexico’s leader.
The president added, “There will be continued cooperation on the Border as it relates to all aspects of Security, including Drugs, Drug Distribution, and Illegal Immigration into the United States.”
The 90-day extension was confirmed just a few moments later in an X post from President Sheinbaum, who wrote in Spanish, “We had a very good call with the President of the United States, Donald Trump. We avoided the tariff increase announced for tomorrow and secured 90 days to build a long-term agreement through dialogue.”
New tariff set to take effect
Politico reported that, had President Trump not granted Mexico a 90-day extension for continued talks on a new deal, the general tariff rate on Mexican goods would have increased to 30% on Friday.
That said, roughly half of all Mexican goods imported into the U.S. remain exempt from any tariffs, provided they comply with the terms of the U.S.-Mexico-Canada trade agreement that was negotiated during Trump’s first term, and which is up for review next year.
Notably, the extension for Mexico came after the president previously broadly warned that there would be no further delays to the impending reciprocal tariffs that were first announced in April, which the outlet observed likely contributed to the scramble in recent weeks by several top trading partners to reach new deals, including the European Union, Japan, South Korea, and the United Kingdom, among others.
Indeed, on the same day that Trump granted Mexico a reprieve, he issued an executive order to further modify the reciprocal tariff rate for dozens of countries that hadn’t yet reached a new deal, including those who’d negotiated in bad faith or hadn’t attempted to negotiate an agreement at all.
Treasury crackdown on cartel financiers
In separate but related news, Breitbart also reported that Treasury Secretary Scott Bessent had announced just one day earlier that the U.S. had launched a crackdown on the alleged financial enablers of Mexico’s notorious criminal cartels, including new sanctions against a trio of purportedly cartel-linked banks and financial institutions.
“We are coming for them,” Bessent vowed of the cartels and those who finance their illicit operations, which include the cross-border trafficking of dangerous drugs and illegal aliens, among other things.
The post Trump grants Mexico 90-day extension on new tariffs to allow for continued talks appeared first on Conservative Institute.
Click this link for the original source of this article.
Author: Ben Marquis
This content is courtesy of, and owned and copyrighted by, https://conservativeinstitute.org and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
