President Donald Trump on Monday said that he is pausing for one month his new 25% tariff on goods entering the United States from Mexico after Mexican President Claudia Sheinbaum agreed to immediately send 10,000 soldiers to her country’s northern border to prevent drug trafficking.
The announcement of the pause came two days after Trump slapped 25% tariffs on goods from Mexico and Canada, as well as a 10% tariff on goods imported from China.
U.S. stocks, which had opened trading lower Monday, regained most of those losses on news of the pause.
Trump said in a social media post that he and Sheinbaum spoke Monday morning.
“We further agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico,” Trump wrote in the post.
“I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a ‘deal’ between our two Countries,” Trump wrote.
Sheinbaum had first disclosed the pause in a post on the X social media site.
“We had a good conversation with President Trump with great respect for our relationship and sovereignty; we reached a series of agreements,” Sheinbaum wrote in the tweet, according to a translation from Spanish.
She also wrote, “The United States is committed to working to prevent the trafficking of high-powered weapons to Mexico.”
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