Trump Postpones Plan to Impose 30% Tariff on Mexico
Current 25% tariff to remain for 90 days after agreement with President Claudia Sheinbaum
Mexico to maintain 25% fentanyl and automobile tariffs, 50% on steel, aluminum, and copper
President Donald Trump of the United States announced on July 31 (local time) that the current tariff rate of 25% on imports from Mexico will be maintained for the next 90 days.
On this day, President Trump stated in a post on his self-created social networking service, Truth Social, "I just finished a very successful phone call with President Claudia Sheinbaum of Mexico," and made this announcement.
He said, "We agreed to extend the same (tariff) agreement that we have maintained for a short period for another 90 days," and explained, "Specifically, Mexico will continue to bear a 25% fentanyl tariff, a 25% automobile tariff, and a 50% tariff on steel, aluminum, and copper."
Since April, President Trump has imposed a 25% fentanyl tariff on all Mexican imports, citing Mexico's insufficient cooperation in cracking down on fentanyl distribution. Recently, he warned that he would raise the tariff to 30% while demanding additional measures from Mexico. However, through this agreement, it was decided to maintain the current tariff level for the next 90 days without any increase.
The 25% automobile tariff and the 50% tariff on steel, aluminum, and copper are item-specific tariffs imposed by the United States on countries worldwide. However, countries such as South Korea, Japan, and the European Union (EU), which have individual trade agreements with the United States, have lowered their automobile tariff rates to around 15%.
With this agreement, Mexico has avoided an immediate tariff increase and has secured time for further negotiations with the United States over the next three months.
President Trump stated, "Mexico has agreed to immediately remove numerous non-tariff trade barriers," and added, "Negotiations with Mexico have different complexities compared to other countries due to issues such as the border, but we are aiming to conclude a new trade agreement within the next 90 days."
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