The American president, Donald Trump, still backtracked on Thursday March 6, writing On its network, Truth Socialthat most of the customs duties decided against Mexico were suspended until April 2. “Mexico will not have to pay customs duties on all the goods covered by ACEUM”The free trade treaty which regulates most of the trade between the two countries.
“This agreement goes until April 2” “wrote the American president, saying that she made this decision “In terms of” For her counterpart, Claudia Sheinbaum. “Our relationship is very good”continued Mr. Trump, saying “Work ardently, together”On illegal immigration to the United States and fentanyl traffic. Donald Trump then signed on Thursday a decree expanding the exemption from customs duties to a certain number of Canadian products, the same as the Mexicans responding to the rules set by ACEUM, and lowering those imposed on the potash, used as fertilizer by American agriculture, from 25 % to 10 %.
The Mexican president praised the decision of the American president, welcoming a collaboration with “Unprecedented results”. The two governments will continue to work together, “Particularly on the subjects of migration and security, which include a reduction in the illegal passage from fentanyl to the United States, as well as that of weapons to Mexico”She said in a statement. Before the press, the president then declared that Mexico should revise its customs rights with regard to Chinese products. Chinese products are also one of the United States targets.
The Minister of Finance “not worried” of inflation
Donald Trump had announced the implementation of 25 % customs duties on 1East February on Canadian and Mexican products, which were to be effective the next day, before suspending them thirty days following negotiations with the two neighbors of the United States. He had justified these protectionist measures by the lack of involvement of Canada and Mexico in fentanyl traffic, a powerful opioid which causes a major health crisis in the United States. In response, Ms. Sheinbaum had threatened to announce, during a popular rally, measures “Customs and non -customs”. Customs prices threatened Mexico by recession, more than 80 % of exports to the United States, according to experts.
In the United States too, experts expect customs duties imposed by the Trump administration to have repercussions on the American economy, in particular by causing an inflationary spiral. The president had recognized that his country could ” suffer “ of the imposition of these customs tariffs, saying, however, that he was going to “Getting its greatness to America and this will be worth the price that will have to be paid”. His Minister of Finance, Scott Bessent on Thursday, said he was not “Not worried about inflation, long time”believing that customs duties would have an impact ” punctual “.
Scott Bessent stressed that the economic program of the new government had to be seen as “A whole”And that the revenues generated by customs duties will be used to finance the tax cuts of the Americans. Donald Trump “Create in three things (Regarding customs duties). First, that they are a good source of revenue, second that they protect our industries and our jobs and thirdly (…) He uses it to negotiate “ With the other states, described the Treasury Secretary.
On Wednesday, the American president conceded an exemption of one month for the crucial automotive sector in Canada, at the request of American manufacturers.
