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President Claudia Sheinbaum said US tariffs on Mexico would be delayed for one month after a conversation with Donald Trump on Monday.
“We had a good conversation with Trump,” she said in a post on social media.
The Mexican peso erased losses and is up 0.3% on her comments.
President Claudia Sheinbaum said US tariffs on Mexico would be delayed for one month after a conversation with Donald Trump on Monday.
“Tariffs were paused for a month from now,” Sheinbaum said in a post on X. The Mexican peso gained 0.8% after her comments.
Trump confirmed the information with a post on social media, adding that he looks forward to additional rounds of negotiation “as we attempt to reach a deal between our two countries.”
Sheinbaum said she had reached several agreements with Trump during the phone call, and that both countries will start working on trade and security.
Mexico’s president said her government will reinforce the border with the US with 10,000 National Guard officers to prevent the trafficking of drugs, particularly fentanyl, from Mexico to the US.
The US also pledged to work to prevent the trafficking of high-powered weapons into Mexico, she added.
After Trump ordered 25% tariffs on exports from Mexico on Saturday, Sheinbaum said she was asking her economy minister to respond with tariff and non-tariff measures, without elaborating.
Trump told reporters Sunday night that he was set to speak in separate calls with Sheinbaum and with Canadian Prime Minister Justin Trudeau on Monday morning. “I don’t expect anything very dramatic,” Trump said. “We put tariffs on. They owe us a lot of money, and I’m sure they’re going to pay.”
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