Latest news with #Fentanyl
Daily Mail
12 hours ago
- Business
- Daily Mail
Trump kicks final deal with Mexico down the road, keeping fentanyl tariff in place as complex negotiations continue
President Donald Trump announced Thursday that he's giving Mexico a 90-day extension to make a trade deal. The president said on Truth Social that he and his team had been on the phone with Mexican President Claudia Sheinbaum - ahead of Friday's major tariff deadline. The 'liberation day' tariffs that Trump announced back in April are expected to go into effect on August 1 - after being twice-delayed by the administration. They come as the White House has only inked a handful of trade deals. 'I have just concluded a telephone conversation with the President of Mexico, Claudia Sheinbaum, which was very successful in that, more and more, we are getting to know and understand each other,' the president said on Truth Social Thursday morning. Trump said that a Mexican trade deal was more complicated because of the ongoing issues with the southern border. 'We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper,' Trump said. He said Mexico, in turn, would terminate its 'Non Tariff Trade Barriers, of which there were many.' 'We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer,' Trump said. The president then named which White House officials were in the meeting. 'There will be continued cooperation on the Border as it relates to all aspects of Security, including Drugs, Drug Distribution, and Illegal Immigration into the United States,' Trump said. 'Thank you for your attention to this matter!' With the clock ticking, the White House has announced trade deals with the United Kingdom, Vietnam, Indonesia, the Philippines, Japan, South Korea and - while he was visiting Scotland over the weekend - the European Union. A deal with China - which had escalated to a major trade war earlier this year - is also in the process of being worked out.
Business Times
12 hours ago
- Business
- Business Times
Trump gives Mexico 90-day reprieve from higher tariffs
[WASHINGTON] President Donald Trump said he extended Mexico's current tariff rates for 90 days to allow more time for trade negotiations with the US' southern neighbour. 'We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25 per cent Fentanyl Tariff, 25 per cent Tariff on Cars, and 50 per cent Tariff on Steel, Aluminium, and Copper,' Trump said on Thursday (Jul 31) in a social media post. Trump threatened last month to increase Mexico's country-based duty to 30 per cent starting Aug 1. The president's decision comes shortly after he said he would not extend his Friday deadline. 'Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many. We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer,' the president added. BLOOMBERG
Yahoo
13 hours ago
- Business
- Yahoo
Trump says Mexico trade deal extended for 90 days
WASHINGTON (Reuters) -U.S. President Donald Trump said on Thursday he had agreed with Mexican President Claudia Sheinbaum to extend an existing trade deal with Mexico for 90 days and continue talks over that period with the goal of signing a new deal. "Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper. Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many," Trump said in a Truth Social post. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
13 hours ago
- Business
- Reuters
Trump says Mexico trade deal extended for 90 days
WASHINGTON, July 31 (Reuters) - U.S. President Donald Trump said on Thursday he had agreed with Mexican President Claudia Sheinbaum to extend an existing trade deal with Mexico for 90 days and continue talks over that period with the goal of signing a new deal. "Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper. Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many," Trump said in a Truth Social post.
Yahoo
13 hours ago
- Business
- Yahoo
Trump says Mexico trade deal extended for 90 days
WASHINGTON (Reuters) -U.S. President Donald Trump said on Thursday he had agreed with Mexican President Claudia Sheinbaum to extend an existing trade deal with Mexico for 90 days and continue talks over that period with the goal of signing a new deal. "Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper. Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many," Trump said in a Truth Social post.
