President Donald Trump announced Thursday that the United States will extend current tariff rates on Mexican imports for another 90 days, offering a reprieve from steeper duties while negotiations continue.“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 wrote on Truth Social, following a conversation with Mexico’s President Claudia Sheinbaum.
The move comes just hours before a sweeping round of tariffs is set to take effect on Friday, part of Trump’s aggressive trade policy agenda.
In addition to the Mexico extension, Trump also announced a new trade pact with South Korea. That agreement includes a 15% tariff on Korean imports while exempting US exports from reciprocal tariffs.Trump’s flurry of trade activity this week has included threats and fresh tariff actions against multiple countries. On Wednesday, he announced the imposition of a 25% tariff on goods from India and ordered a 50% tariff on many Brazilian products, albeit with some minor exceptions in the case of the South American country.
The move comes just hours before a sweeping round of tariffs is set to take effect on Friday, part of Trump’s aggressive trade policy agenda.
In addition to the Mexico extension, Trump also announced a new trade pact with South Korea. That agreement includes a 15% tariff on Korean imports while exempting US exports from reciprocal tariffs.Trump’s flurry of trade activity this week has included threats and fresh tariff actions against multiple countries. On Wednesday, he announced the imposition of a 25% tariff on goods from India and ordered a 50% tariff on many Brazilian products, albeit with some minor exceptions in the case of the South American country.
He also signed an executive order of a 50% tariff on semi-finished copper products starting August 1, excluding copper scrap and other input materials.
First Published: Jul 31, 2025 10:15 PM IS
