US | Customs
February 03, 2025
Mexico and U.S. Reach Last Minute Deal on Tariffs
Agreement to Delay Tariffs for 1 month Amid Border Security Deal
By TAXSPOC News Desk
In a significant diplomatic move, Mexican President Claudia Sheinbaum struck a deal with the Trump administration to delay the imposition of hefty tariffs on Mexican goods, originally scheduled to take effect on Tuesday. Under the agreement, Mexico will deploy 10,000 additional troops to assist in curbing the flow of migrants and illegal drugs across the U.S.-Mexico border.
TEMPORARY RELIEF FROM 25% TARIFFS
In exchange, Mexico will temporarily avoid the blanket 25% tariffs announced by President Trump on Saturday. Additionally, the U.S. has agreed to assist Mexico in stopping the illegal movement of firearms across the border. This agreement comes just two days after Trump also introduced similar tariffs against Canada and China, sparking concerns about potential disruptions to the global economy and causing turmoil in international stock markets.
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