President Donald Trump said he will pause his plan to impose tariffs on Mexico for a month after speaking 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," President Trump stated on Truth Social.
The 25% tariffs on Mexico imports were due to go into effect on Tuesday. President Trump said the tariffs were being imposed because of illegal immigration and the flow of fentanyl from Mexico.
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Sheinbaum, meanwhile, described her conversation with President Trump as positive, noting that the U.S. has committed to working to prevent high-powered weapons from entering Mexico.
Conversations between the two countries are expected to continue over the next month. President Trump said they will involve "Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico."
Wall Street appeared to react positively to the news. After dropping more than 500 points to begin the down, the Dow Jones was down just over 100 points at around 11 a.m. Eastern.
Meanwhile, the 25% tariffs on Canada and 10% tariffs on China are expected to proceed starting Tuesday barring any last-minute developments.
