Mexico 🇲🇽 and the U.S. 🇺🇸 are hitting the pause button on a looming tariff showdown. During a weekend call, Mexican President Claudia Sheinbaum revealed that President Donald Trump agreed to push back the slap-on tariffs set for Nov. 1, giving both sides some extra breathing room ⏳.
The story began back in July when the U.S. warned Mexico that tariffs on selected exports could jump from 25% to 30% if key issues aren't resolved. Thanks to that 90-day reprieve, negotiators have until early November to hash out 54 non-tariff barriers – think bureaucratic red tape rather than tax hikes.
"We're practically closing this issue," Sheinbaum said with a confident smile at her daily press conference, hinting that a deal is close enough to taste. 🍋
Since taking office in January, President Trump has turned up the heat on trade partners he sees as getting the better end of the deal. Mexico's steel, aluminum and copper have already felt the tariff pinch, so this extension is a win for Mexican exporters and a chance for both sides to reach a smoother path forward.
Reference(s):
cgtn.com
