Trump extends Mexico negotiations by 90 days, keeps 25% tariff rates in place

Just hours before the deadline, Trump said on Thursday that he would enter a 90 -day negotiation period with Mexico on trade with tariff rates by 25 % in place, providing little clarity to restore the enormous wires of the global economy that will require the president to sign a new executive order.

Trump posted on the social truth platform that his phone conversation with Mexican leader Claudia Shinbom was “very successful in it, more and more, we know and understand each other.”

The Republican President threatened by 30 % on the goods from Mexico in a message in July, something that Chinbum said that Mexico is abandoning the next three months.

“We have avoided increasing the tariff that was announced tomorrow and we got 90 days to build a long -term agreement through dialogue,” Sheinbau wrote on X.

Sabah Al -Queen’s call came in a moment of pressure and uncertainty for the global economy. As Trump’s deadline approached, the countries were scrambling to put the finishing touches on the outline of commercial frameworks so that it would not simply impose higher tariff rates that could increase economies and governments.

Trump reached a deal with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines. In Hanity, the Minister of Commerce, Howard Lottenic, told Fox News that there are agreements with Cambodia and Thailand after they agreed to stop the shooting of the border conflict.

White House press secretary Caroline Levitte said that Trump “is” at the stage after this afternoon or later this evening “will sign an order to impose new prices starting at 12:01 am on Friday. She said that countries that have not received a pre -received letter from Trump or negotiating a framework will be notified of possible tariff rates, either by the message or executive order.

Among those who were not sure of their commercial situation were the wealthy and Norway.

Norwegian Finance Minister Jeans Stoltenberg said that he was “completely uncertain” whether a deal will be completed before Trump’s deadline.

But even the public announcement of a deal can provide a slight reassurance to an American commercial partner.

European Union officials are awaiting the completion of a decisive document that defines how the tax framework works on importing cars and other goods from the 27 -member government bloc. Trump announced a deal on Sunday while it was in Scotland.

“The United States has made these obligations. Now it is up to the United States for its implementation. The ball is in court,” said Ulof Gil, a spokesman for the European Union Committee. The document will not be legally binding.

Trump, as part of the agreement with Mexico, said that the goods imported in the United States will continue to face a 25 % tariff that is apparently associated with the trafficking of fentanel. He said that cars will face a 25 % tariff, while taxes on copper, aluminum and steel will be imposed by 50 % during the negotiation period.

He said that Mexico would end “non -introductory commercial barriers”, but he did not provide details.

Some goods are still protected from the definitions taken by the United States and Cna agreement for 2020, or USMCA, which Trump negotiated during his first term.

But it seems that Trump has been strained in this deal, which will be to re -negotiate next year. One of his first important moves as president was the tariff of goods from both Mexico and Canada earlier this year.

The American Statistical Office numbers show that the United States ran a $ 171.5 billion commercial imbalance with Mexico last year. This means that the United States has bought more goods than Mexico more than sold to the country.

The imbalance with Mexico grew in the aftermath of USMCA, when he was only 63.3 billion dollars in 2016, the year that Trump had started his first term in his position.

In addition to treating trafficking in fentanel, Trump made a target to fill the commercial gap.

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In this report, this report contributed to this report, the Associated Press Loren Cook, in Brussels and Jamie Kiten in Geneva.