The President of Mexico, Claudia Sheinbaum Pardo, led an informational assembly on Sunday in the Zócalo of Mexico City, where she highlighted the agreement reached with the President of the United States, Donald Trump, to temporarily suspend the 25% tariffs on Mexican products covered by the Treaty between Mexico, the United States, and Canada (USMCA). This agreement will be in effect until April 2.
In her speech, Sheinbaum emphasized the importance of unity and collaboration between citizens and the government, highlighting that the agreement achieved is a collective victory that demonstrates that when we work together, we can achieve great things. She underscored the interdependence between Mexico and the United States by mentioning that 80% of Mexicans traveling to the neighboring country contribute to its economy.
Trump's initial announcement of imposing 25% tariffs on Mexican and Canadian imports generated turmoil in the markets and diplomatic tensions. However, after bilateral negotiations, the temporary suspension of tariffs for goods protected by the USMCA was agreed upon.
The decision to suspend the tariffs was announced by Trump on March 6, after a call with Sheinbaum. During the conversation, the Mexican president presented data highlighting the joint efforts between both countries, such as the reduction of fentanyl trafficking at the border. Seizures of this narcotic decreased by 41.5% in February, a gesture that was considered significant by the U.S. government.
