Extension for 90 days in their existing trade agreement was agreed by the President of the USA Donald Trump with his counterpart from the Mexico Claudia Seinbaum and during this time they will continue their contacts to sign a new deal.
In a post on the Truth Social platform, Trump clarified that the 25% duties for cars exported from Mexico to the US, 50% for steel, aluminum and copper are still valid.
There are also 25% of Trump’s “Fentanyl duties”, which concern all imported products except those covered by the free trade agreement between Canada, the US and Mexico (USMCA).
“I just finished a telephone conversation with Mexico’s president, Claudia Seinbaum, who was very successful as we know each other and understand each other more and more. The complexity of an agreement with Mexico is somewhat different from that of other countries, due to both the problems and the advantages of the border. We agreed to extend, for a period of 90 days, the exact same agreement we had for the last short period, namely that Mexico would continue to pay a 25% duty for fentanyl, 25% for cars and 50% for steel, aluminum and copper. In addition, Mexico agreed to immediately abolish the non -tariffs in trade, which were many. We will discuss with Mexico during the next 90 days with the aim of signing a trade agreement within the 90 days or later. The meeting was attended by Vice President JD Vance, Finance Minister Scott Besen, Foreign Minister Marko Rubio, Commerce Minister Howard Lutnik, United States and Ambassador Jameson Green, trading spokesman Staff leader Susi Wiles, Deputy Chief of Staff on Policy and United States Internal Security Advisor Steven Miller. Cooperation on the border on all aspects of security, including drugs, drug trafficking and illegal immigration to the United States will continue. Thank you for your attention on this subject! “
The US president imposed these duties at the beginning of the year, promoting the increased flow of fentanyl from Mexico and Canada. It threatened to impose 30% duties on all Mexican products.
Seinbaum described the telephone communication with Trump as “very good”, explaining that her country “avoided the increase in duties” announced for tomorrow, August 1st. Following this development, Mexico and the US will seek to achieve “a long -term deal,” Seinbaum added.