Trump changes course, delays tariffs on most imports from Mexico until April
The Hindu
President Donald Trump postpones 25% tariffs on most goods from Mexico for a month amid widespread fears of the impact of a broader trade war.
President Donald Trump said Thursday (March 6, 2025) that he has postponed 25% tariffs on most goods from Mexico for a month amid widespread fears of the impact of a broader trade war.
Mr. Trump’s announcement comes after his Commerce Secretary, Howard Lutnick, said earlier Thursday (March 6, 2025) that tariffs on both Canada and Mexico would “likely” be delayed. No change was announced regarding the new tariffs imposed on Canada.
This is the second time Mr. Trump has postponed tariffs for a month since he first unveiled the import taxes in early February. The reprieve would apply to goods from Mexico that are compliant with the trade agreement Mr. Trump negotiated with Canada and Mexico in his first term.
Also Read | Trump grants one-month exemption for U.S. automakers from new tariffs on imports from Mexico, Canada
“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement,” Mr. Trump said on Truth Social. “I did this as an accommodation, and out of respect for, President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border.”
No details were released Thursday (March 6, 2025) about what led to the temporary lifting of tariffs on Mexico.
Mr. Trump’s on-again, off-again tariffs threats have roiled financial markets, lowered consumer confidence, and enveloped many businesses in an uncertain atmosphere that could delay hiring and investment. Mr. Lutnick emphasized that reciprocal tariffs, in which the United States applies import taxes on countries that tariff U.S. exports, will still be implemented April 2.
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