US, Mexico Reach Deal To Delay 25% Tariffs

• Click here for a new, updated story: Proposed 25% US Tariff On Canadian Goods Will Be Paused After Earlier Deal With Mexico

Mexican President Claudia Sheinbaum announced the deal Monday morning, Feb 3.

It will pause the 25 percent levies for a month, and follows negotiations between Mexican officials and the Trump administration on border security and drug trafficking. 

Mexico committed to deploy 10,000 troops dedicated to stopping illegal drugs and migrants from crossing the border into the US.

In return, the US has pledged to help curb the flow of high-powered weapons into Mexico, Sheinbaum said.

The announcement came two days after President Trump imposed broad tariffs on Mexico, Canada, and China, sparking fears of a global trade war.

While tariffs on Canada and China remain on schedule, concerns over escalating disputes sent the stock market tumbling at Monday's opening bell. 

Despite the temporary reprieve, uncertainty lingers over future trade relations, with further negotiations expected in the coming weeks, and the  tariffs on Canada and China still due to take effect.

• Earlier report - Trump To Hit Canada, Mexico, China With Tariffs: Here's When, How Much

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