Trump announces a pause on tariffs for some Mexican goods

President Donald Trump announced on Thursday a delay of one month of tariffs on some products in Mexico.

The temporary exemption will raise tariffs for all Mexican goods that comply with the United States-México-Canadá, or USMCA agreement, a free trade agreement.

The announcement occurred after a conversation between Trump and Mexican president Claudia Sheinbaum, Trump said.

“Our relationship has been very good, and we are working hard, together, on the border, both in terms of preventing illegal aliens from entering the United States and, in the same way, stopping the fentanyl. Thanks to President Sheinbaum for his arduous work and cooperation!” Trump said in a publication in Social truth.

Minutes later, Sheinbaum corresponded similarly.

“We had an excellent and respectful call in which we agreed that our work and collaboration have yielded unprecedented results, in the framework of respect for our sovereignty,” Sheinbaum said in a publication about unknown.

Trump made the announcement shortly after the Secretary of Commerce Howard Lutnick said that a delay of one month of tariffs in Mexico and Canada would probably apply to all products that meet the USMCA.

Trump negotiated the USMCA during his first term, signing the agreement with Canada and Mexico in 2018.

“What is part of President Trump’s agreement with Canada and Mexico [is] You are likely to get an exemption from these rates, “Lutnick told CNBC on Thursday morning.

Despite the effort to relieve some rates, the actions fell on Thursday as the consequences of politics continued in the markets.

The industrial average Dow Jones fell around 400 points, or 0.9%, while the S& P 500 fell 1.5%. The technological heavy nasdaq sank 2%.

The mass sale deleted some of the market profits delivered one day before after President Donald Trump gave us a car manufacturers a month of the rates. However, duties over a large number of other goods remained in place.

At the beginning of the US, at the beginning of this week, 25% tariffs slapped in the goods of Mexico and Canada, as well as 10% of the imports of China imports. The new round of duties on Chinese products doubled an initial set of rates placed in China last month.

The delay of a month in automotive rates caused a demonstration for the actions of American car manufacturers on Wednesday, but the largest companies in the sector rejected in the first operations on Thursday.

Ford shares fell 1.5%, while General Motors fell almost 3%. Stellantis, the parent company of Chrysler and Jeep, saw that the price of their shares fell 2%.

Tesla, the electric car manufacturer led by Elon Musk, fell 4.5% on Thursday.

Tariffs are expected to present a challenge for American car manufacturers, many of which depend on a closely intertwined supply chain with Mexico and Canada.

The American Automotive Policy Council, or AAPC, a commercial group that represents Ford, General Motors and Stellantis, praised the tariff exemption of a month.

“American automobile manufacturers Ford, GM and Stellantis applaud President Trump for recognizing that vehicles and pieces that meet high USMCA content requirements in the United States and regional must be exempt from these rates,” said AAPC President Matt Blunt, ABC News in a statement.

This is a development story. Consult the updates again.