Mexico reached US trade deal without 'any additional actions': President Sheinbaum

MEXICO CITY

Mexico reached Thursday's agreement with US President Donald Trump to delay 30% tariffs without making any concessions, according to President Claudia Sheinbaum.

“The agreement we reached did not involve any additional actions from Mexico. We simply remain as we are and continue the dialogue,” she said in a news conference after her 40-minute phone call with Trump earlier in the day.

During the call, she was accompanied by Secretary of Economy Marcelo Ebrard and Foreign Minister Juan Ramon de la Fuente.

“The USMCA has been safeguarded,” she said from the National Palace, referring to the US-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement (NAFTA) in 2020.

Thursday's agreement involved a 90-day standstill on the 30% tariffs set for Aug. 1 on all exports for 90 days. In a social media post following the call, Trump said Mexico would continue paying a 25% levy on fentanyl, 25% on cars, and 50% on steel, aluminum, and copper.

On X, Sheinbaum said her call with Trump was “very good.”

“We avoided the tariff increase announced for tomorrow and we achieved 90 days to build a long-term agreement based on dialogue,” she added.

Trump had promised a 30% levy on Mexican exports starting Friday, as the Mexican government had failed to meet US demands regarding efforts to curb drug trafficking, according to a personal letter issued to Sheinbaum.

The agreement came despite pledges by US officials, including Secretary of Commerce Howard Lutnick, that the tariffs would not be postponed again.

Sheinbaum explained that the current 25% tariffs apply to everything outside the trilateral treaty between Mexico, the US, and Canada. Tariffs on the automotive sector remain, but there is a discount on parts manufactured in Mexico, the US, and Canada.

Additionally, she explained that the agreement includes a permanent dialogue table between Sheinbaum’s team and that of Trump.

“We have the best possible agreement, comparable even to those of other nations,” said Sheinbaum.