Trump Pauses Tariffs On Mexico After Financial Stocks Nosedive

President Donald Trump announced on Monday he is delaying the implementation of 25% tariffs on Mexico, one of the country’s biggest trading partners, for one month after he discussed new border measures with Mexican President Claudia Sheinbaum.

“It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States,” Trump said on his social media platform, Truth Social. “These soldiers will be specifically designated to stop the flow of fentanyl, and illegal migrants into our Country.”

“We further agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico,” he added. “I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a ‘deal’ between our two Countries.”

Mexico has deployed troops to the border in the past without the threat of tariffs. In 2019, it sent 15,000 troops to its northern border after pressure from Trump’s administration to help slow immigration into the U.S. In 2021, under the Biden administration, Mexico agreed to send 10,000 troops. 

Stock markets opened with steep losses on Monday in the wake of Trump’s across-the-board tariffs on goods from Mexico, Canada and China, which were set to go into effect after midnight on Tuesday morning.

Trump is also scheduled to speak with Canadian Prime Minister Justin Trudeau on Monday. The Canadian leader has announced retaliatory tariffs on U.S. goods in response to Trump’s move.  

Trump’s tariff moves drew bipartisan criticism over the weekend.

“It will drive the cost of everything up,” Republican Senator Mitch McConnell told CBS News’ “60 Minutes” in an interview that aired Sunday. “In other words, it will be paid for by American consumers. I mean, why would you want to get in a fight with your allies over this?”

Republican Senator Chuck Grassley, meanwhile, pleaded with the Trump administration to exempt farmers from his tariffs on certain Canadian goods.