Revamped Trade Deal: Trump and Sheinbaum's 90-Day Extension
U.S. President Donald Trump and Mexican President Claudia Sheinbaum have agreed to extend an existing trade deal for 90 days. During this period, they aim to negotiate a new agreement. The current terms include Mexico paying tariffs on fentanyl, cars, steel, and aluminum while terminating non-tariff barriers.
- Country:
- United States
In a significant development for U.S.-Mexico trade relations, President Donald Trump announced an extension of the existing trade deal with Mexico for an additional 90 days. This announcement followed discussions with Mexican President Claudia Sheinbaum, as both leaders aim to negotiate a new agreement during this period.
As part of the current trade terms, Mexico will continue to incur a 25% tariff on fentanyl and cars, along with a 50% tariff on steel, aluminum, and copper. These tariffs reflect a robust stance on certain goods amidst ongoing trade negotiations.
Moreover, Mexico has also committed to the immediate termination of its non-tariff trade barriers, addressing what Trump described as numerous impediments to fair trade. This move is intended to facilitate smoother trade exchanges while longer-term deal negotiations continue.
(With inputs from agencies.)
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