President Trump announced on social media that after a conversation with Mexico’s President Claudia Sheinbaum today, they agreed that Mexico would be exempt from the 25% tariffs on U.S. imports, as long as the goods qualify under the U.S.-Mexico-Canada Agreement (USMCA).
“This agreement is effective until April 2nd,” Trump posted on @realDonaldTrump. “I made this decision as a gesture of goodwill and respect for President Sheinbaum. Our relationship has been strong, and we’re working closely together on border security, both to prevent illegal immigration into the U.S. and to stop the flow of fentanyl.”
The 25% tariffs on Mexico and Canada went into effect at 12:01 a.m. ET on March 4.
Additionally, on March 3, the day after the tariffs on Mexico and Canada took effect, the Trump administration offered the U.S. automotive industry a tariff exemption if they met USMCA requirements.
Currently, certain U.S. steel and aluminum imports will be subject to a 25% tariff starting on March 12.
Source: NCBFAA