President Donald Trump announced on Truth Social that he will suspend tariffs on Mexican goods covered by the United States-Mexico-Canada Agreement (USMCA) until April 2, 2025. This decision came after a conversation with Mexican President Claudia Sheinbaum.
In his Truth Social post, Trump stated: “After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum.”
This move represents another abrupt turn in the ongoing trade tensions between the U.S. and Mexico. The tariffs have been imposed, paused, reimposed, and now paused again, creating uncertainty for businesses and consumers.
The suspension applies to USMCA-compliant goods, which likely encompasses a significant portion of Mexican exports to the U.S., including sugar and corn.
Commerce Secretary Howard Lutnick earlier said this also likely applies to Canada.
This decision follows a previous exemption granted to automobiles on Wednesday, which has now been expanded to include most products under the USMCA.
The pause in tariffs is temporary, lasting until April 2, when larger reciprocal tariffs are expected to go into effect..
This development occurs amid ongoing discussions between U.S. and Mexican officials regarding border security, drug trafficking, and immigration issues.
The decision may provide a window for further negotiations between the two countries to address the concerns that initially led to the tariff threats.