Mexican President Claudia Sheinbaum said on Monday that tariffs imposed by the United States are on hold for a month after a "good" conversation with U.S. President Donald Trump, in which she committed to putting more law enforcement on the U.S. border to stop the flow of drugs.
Trump ordered the 25 per cent tariffs on all Mexican goods over the weekend, with Mexico saying it would respond with tariffs of its own without detailing on what products. As part of the agreement on Monday, Sheinbaum said that Mexico will send 10,000 National Guard troops to the U.S. border to stop drugs, particularly fentanyl, from moving across the border.
She added that the U.S. promised in turn to work to stop the flow of high powered weapons into Mexico from the U.S. The peso, which had been trading down over 1 per cent against the dollar, reversed course after the announcement and traded in positive territory.
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