WASHINGTON (AP) — President Donald Trump said Thursday there will be a 90-day negotiations with Mexico after a call with the country’s leader, Claudia Sinbaum. 25% tariff rate Stay in place.
Trump posted to The Truth Society and said that his phone conversation with Shanebaum is “increasingly successful, knowing and understanding each other.”
Trump said goods from Mexico imported into the US would continue to face 25% tariffs, which the US president ostensibly relates to fentanyl trafficking. Republicans said cars face 25% tariffs and copper, aluminum and steel will be taxed at 50%.
Trump said Mexico would end the “non-tariff trade barrier,” but he did not provide details.
Some products are still protected Customs With the 2020 US-Mexico-Canada Agreement, USMCATrump negotiated during his first term.
But Trump appeared to have gotten worse with the deal. One of his first important moves as president was to tariff on goods from both Mexico and Canada earlier this year.
Census Bureau figures show that the US operates a $171.5 billion trade imbalance with Mexico last year. In other words, the US purchased more items from Mexico than it was sold to this country.
The imbalance with Mexico grew in the aftermath of the USMCA, as it was only $63.3 billion in 2016, before Trump began his first term in office.
In addition to addressing fentanyl trafficking, Trump has aimed to bridge the trade gap.
