US President Donald Trump on Monday confirmed that tariffs on goods from Mexico have been paused for a month, hours before they were to take effect. Both sides wil now negotiate to try and arrive at common ground.Trump’s confirmation of the development comes shortly after Mexican President Claudia Sheinbaum announced it on X following a conversation with Trump. During the conversation, Sheinbaum committed to increasing law enforcement efforts at the US border to check drug trafficking from Mexico into America.In the post on X, Sheinbaum stated, “Our teams will start working today in two areas: security and commerce.”
Over the weekend, Trump had ordered a 25% tariff on all Mexican goods, prompting Mexico to threaten retaliatory tariffs without specifying which products would be affected.As part of the agreement reached on Monday, Sheinbaum confirmed that Mexico will deploy 10,000 National Guard troops to the US border to combat the flow of drugs, particularly fentanyl, into the United States. In return, the US has pledged to work on preventing the influx of high-powered weapons into Mexico.Following the announcement, the Mexican peso, which had initially fallen over 1% against the dollar, rebounded and began trading positively.— With agency inputsAlso read: Ether tumbles 27%, Bitcoin down 6%, Dogecoin falls 23%: Trump’s tariffs shake crypto markets
