Trump agrees to cancel tariffs on Mexico on USMCA Agreement items

WASHINGTON, DC: US President Donald Trump said that he had a telephonic conversation with President Claudia Sheinbaum of Mexico, after which he agreed that Mexico will not be required to pay Tariffs on anything that falls under the United States-Mexico-Canada Agreement (USMCA) Agreement.

Trump said that he was working with Sheinbaum for stopping the illegal immigration and fentanyl into the US.

He shared the details of the telephonic conversation on his social media platform Truth Social.

“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl. Thank you to President Sheinbaum for your hard work and cooperation!”

The United States-Mexico-Canada Agreement (USMCA) entered into force on July 1, 2020. The USMCA, which substituted the North America Free Trade Agreement (NAFTA) is a mutually beneficial win for North American workers, farmers, ranchers, and businesses. The Agreement creates more balanced, reciprocal trade supporting high-paying jobs for Americans and grow the North American economy, as per the Executive Office of the US President.
US goods and services trade with USMCA totaled an estimated USD 1.8 trillion in 2022. Exports were USD 789.7 billion; imports were USD 974.3 billion. The US goods and services trade deficit with USMCA was USD 184.6 billion in 2022.
Trump administration’s blanket 25 per cent tariffs on Mexico, and Canada which aims at bringing America’s top trading partners to heel, had taken effect on Tuesday, as reported by CNN.
Mexico’s President Claudia Sheinbaum had said on Tuesday morning that she would announce retaliatory tariffs on American imports into Mexico, as well as non-tariff measures, on Sunday.
“The unilateral decision made by the United States affects national and foreign companies operating in our country, as well as our people,” she said at a press conference in Mexico City.
“No one benefits from this decision,” she added, as per CNN. (ANI)