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.
Breakdown
- President Trump and Mexican President Scheinbaum agreed to extend current trade terms for 90 days. 12s
- Mexico will continue to pay a 25% tariff on exports to the US, with exemptions for USMCA-compliant goods. 20s
- Sectoral tariffs remain at 25% for cars and 50% for metals such as steel, aluminum, and copper. 32s
- The extension aims to provide stability for markets and businesses as negotiations continue. 45s
- Similar trade negotiations are ongoing with other countries, including Canada, Thailand, and Cambodia. 1m 23s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.