Trump Extends Mexico Tariff Reprieve For 90 Days

President Donald Trump on Thursday announced the extension of tariff reprieve for Mexico by another 90 days.

In a post on Truth Social, President Trump said he spoke to Mexican President Claudia Sheibaum, saying that he had a “very successful” call with her.

“The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border,” President Trump said in his post.

He further said that the United States and Mexico will continue to have the same deal during these 90 days. Spelling out the details, the President noted Mexico will continue to pay a 25% fentanyl tariff, a 25% levy on cars, and 50% tariffs on steel, aluminum, and copper.

President Trump also revealed that Mexico has agreed to end its non-tariff trade barriers with the U.S.

“We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90-day period of time, or longer,” he added.

Earlier in the day, Treasury Secretary Scott Bessent told CNBC in an interview that the U.S. and China have the “makings of a deal.”

Meanwhile, U.S. equities were hovering in the green on Thursday as investors remained optimistic on the back of better-than-expected big tech earnings.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.29% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100, rose 0.26%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘extremely bullish’ territory.

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