Donald Trump made the decision after speaking with Mexico's President Claudia Sheinbaum, according to his own platform Truth Social.
The tariffs for all goods within USMCA – the North American free trade agreement negotiated with Canada and Mexico during Trump's previous term – are being postponed until April 2.
He motivates the decision, among other things, by having a very good relationship with Claudia Sheinbaum.
Earlier on Thursday, the US Trade Minister Howard Lutnick had already flagged that Donald Trump is likely to postpone the tariffs against Mexico, but also against Canada, on many more product groups.
It is still unclear whether Trump will make the same decision for Canada as he has now made regarding Mexico.
Tariffs are being postponed
General tariffs of 25 percent were introduced earlier in the week. But on Wednesday, Trump postponed those affecting the automotive giants Stellantis, Ford, and General Motors by a month, until April 2.
The Trump administration – which has motivated the tariffs by wanting to see neighboring countries act to stop the flow of migrants and fentanyl to the USA – is currently negotiating with Canada and Mexico.
Howard Lutnick also said that he and Trump would talk to the Mexican side on Thursday and that both the other countries have offered to make enormous efforts against fentanyl.
China and the EU are also in Trump's sights regarding additional punitive tariffs.
The unilateral introduction against Mexico and Canada was made in violation of the USMCA agreement and has raised great concern on markets around the world due to fears of a full-scale international trade war.
Does not intend to withdraw
Canada's Prime Minister Justin Trudeau has also clarified that he does not intend to withdraw his package of countermeasures in exchange for individual American exceptions.
Analysts have spoken of Trump's willingness to compromise, which is likely to come to life if Canada and Mexico establish the same tariffs against the rest of the world as the USA – so that goods and components from other countries do not enter the American economy via neighboring countries.
Moreover, many have pointed out that the introduction hits hard on American business.
The New York Stock Exchange has had a tough week with falling prices on two out of three trading days and is clearly down even on Thursday.
