Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau have both announced agreements with President Donald Trump to postpone tariffs on their countries’ imports for one month.
It was not immediately clear if Mexico and Canada would halt their planned retaliatory tariffs.
The 25% tariff on all Mexican imports was originally planned to go into effect on Tuesday. In a post on X translated from Spanish, Sheinbaum said she and her team “had a good conversation with President Trump,” and the tariffs would be delayed for one month from now as part of a series of agreements between the two nations.
Per the agreements, Mexico will immediately reinforce its northern border with 10,000 National Guard members. Sheinbaum said this was “to prevent drug trafficking from Mexico to the United States, particularly fentanyl.”
“The United States is committed to working to prevent the trafficking of high-powered weapons to Mexico,” she wrote in the post. “ Our teams will begin working today on two fronts: security and trade.”
Later in the afternoon, Trudeau followed suit and announced Canada would make similar agreements with the U.S. and delay its tariffs by one month.
Just days prior to Monday’s agreements, Sheinbaum announced plans for retaliatory tariffs as well as “non-tariff measures” in response to the incoming U.S. tariffs.
Tariffs are still expected to impact Chinese imports on Tuesday. Trudeau has said Canada would match the U.S. with 25% tariffs on up to $155 billion in U.S. imports.
As of Monday morning, the impending tariffs had caused significant stock market upsets, with the Nasdaq falling 1.86%, the Dow Jones Industrial Average dropping about 1.1% and the S&P 500 tumbling roughly 1.8%.
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