President Donald Trump on Thursday said he would not raise U.S. tariffs on Mexican goods beyond their current levels for 90 days, in order to give the neighboring countries time to strike a trade deal.

Washington

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

President Trump has agreed with Mexican President Claudia Scheinbaum to extend the current 25% tariffs on Mexican exports to the United States for another 90 days. This decision maintains the status quo in trade relations between the two countries, with exemptions for USMCA-compliant goods and sectoral tariffs—25% on cars and 50% on metals—remaining unchanged.

The extension is intended to provide stability for markets and businesses as both sides continue to negotiate on issues such as border security and fentanyl. While there had been threats to increase the tariffs to 30%, the current rates will remain in place during this period. Similar negotiations with other trading partners, including Canada, Thailand, and Cambodia, are also ongoing.

President Trump extends Mexico's 25% tariffs for 90 days

All right, we are getting some breaking news here on trade with Mexico. Megan Casella has details. There was a phone call, Megan. There was a phone call, Sarah. President Trump posting on social media saying he just spoke with Mexican President Claudia Scheinbaum and the two leaders agreed that for the next 90 days they are keeping trade at a status quo between the U.S. and Mexico. They're keeping the exact same deal. So that means Mexico will continue to pay a 25% tariff on its exports to the U.S. due to fentanyl, although a White House official did confirm to me that that tariff will continue to hold exemptions for USMCA compliant goods. There's also those sectoral tariffs that remain 25% on cars, 50% on metals, including steel, aluminum, and copper. So everything holds firm. All these two sides continue to negotiate for the next 90 days. And Sarah, this is a real good sign for stability in the markets and for businesses as Mexico, of course, is the U.S.'s largest trading partner. They had been threatening, the president had been threatening to raise that 25% tariff to 30%. Now we know it will hold at 25% and the exemptions will remain at least for the next 90 days. On social media, Mexico's President Scheinbaum also saying, describing this as keeping things steady and giving them 90 days to achieve a longer-term agreement. So they're trying to work on issues around the border, around fentanyl, and could get something longer-term from there. So guys, as we do await this midnight deadline, we do expect we could get more news like this with other trading partners. Canada is now the biggest US trading partner out there without some sort of a framework deal to announce. So we could get news on Canada today. White House officials tell me something on Thailand and Cambodia is still possible as well before tariffs are set to ratchet up for something like 50 or 60 countries at midnight tonight. Guys. Megan, thank you. I'm Megan Costello, obviously monitoring all things trade.

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President Trump extends Mexico's 25% tariffs for 90 days

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