US – Mexico: Trade Deal Extended for 90 Days

US President Donald Trump announced an agreement with his Mexican counterpart, Claudia Sheinbaum, to extend the existing trade agreement for 90 days.

During this period, the two countries will continue contacts aimed at signing a new agreement. Sheinbaum stated that Mexico and the US will seek a 'long-term agreement'.

Trump clarified that tariffs of 25% on cars exported from Mexico to the US, as well as tariffs on steel, aluminum, and copper, remain in effect. Also, the 'fentanyl tariffs' remain in effect for imported products outside the USMCA agreement.

Trump had threatened to impose tariffs of 30% on all products from Mexico, citing the increased flow of fentanyl. Sheinbaum described the communication with Trump as 'very good,' emphasizing that her country avoided the announced tariff increase.

Mexico also agreed to immediately remove non-tariff trade barriers.