DEAL REACHED: Trump says upcoming Mexico tariffs will be 'indefinitely suspended'

Assoicated Press/Alex BrandonPresident Donald Trump.
  • President Donald Trump announced on Friday evening that the tariffs he threatened last week would be “indefinitely suspended” after negotiations with Mexico.
  • “I am pleased to inform you that The United States of America has reached a signed agreement with Mexico,” Trump announced on Twitter.
  • Trump previously announced he would impose a 5% tariff on imports from Mexico, citing an influx of migrants “coming into our Country from Mexico.”
  • The president in his recent announcement said Mexico had agreed “to take strong measures to stem the tide of Migration.”
  • Visit Business Insider’s homepage for more stories.

President Donald Trump announced on Friday evening that the tariffs he threatened last week would be “indefinitely suspended” after several days of negotiation with Mexico.

“I am pleased to inform you that The United States of America has reached a signed agreement with Mexico,” Trump announced on Twitter. “The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended.”

The announcement comes after US and Mexican officials began negotiating on Wednesday. Trump previously announced he would impose a 5% tariff, citing an influx of migrants “coming into our Country from Mexico.”

Trump threatened the tariffs would increase to 10% in July, 15% in August, 20% in September, and 25% in October, if Mexico did not adequately take steps to lower the illegal immigration rate. Trump added at the time that the US will have the “sole discretion” in determining whether Mexico has done enough to “alleviate” the border crossings.

Read more: 2 maps show how every US state’s economy could be affected by Trump’s proposed Mexico tariffs

The president in his recent announcement said Mexico had agreed “to take strong measures to stem the tide of Migration.”

“This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States,” Trump said in his tweet.

On Thursday, Mexican Foreign Secretary Marcelo Ebrard announced that his country planned to deploy 6,000 National Guard troops to the Guatemalan border in order to regulate the number of migrants.

“The United States looks forward to working alongside Mexico to fulfil these commitments so that we can stem the tide of illegal migration across our southern border and to make our border strong and secure,” US Secretary of State Mike Pompeo said in a statement on Friday.

The US purchased $US378 billion worth of Mexican imports in 2018, much of which were automotive-related items.

The proposed tariffs received a mixed reception. Some White House aides warned Trump not to impose the tariffs, fearing economic blowback and the possibility of scuttling trade deals that are currently in the works, according to The Washington Post. Leaders from the US, Mexico, and Canada, are working on the new North American trade agreement, which has yet to pass in Congress. Republican lawmakers in the Senate also expressed frustration with the proposed tariffs. Others, meanwhile, worried about the economic impact that could be felt by US businesses and consumers.

Meanwhile, some Trump officials backed the tariff proposal and pointed to the rising rate of migrants crossing the border in recent weeks. Over 100,000 migrants were apprehended at the US-Mexico border in April, the most in more than a decade.

“They need to step up their security efforts at their southern border,” acting Homeland Security Secretary Kevin McAleenan said in a conference call last week. “They have natural chokepoints leading away from the border of Chiapas and Guatemala, into Mexico and on the way to the US.”

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