President Donald Trump announced on Monday that tariffs on Mexican imports would be delayed for one month after Mexican President Claudia Sheinbaum agreed to deploy 10,000 National Guard troops to the U.S.-Mexico border. The move adds further uncertainty to the looming trade war.
"These soldiers will be specifically designated to stop the flow of fentanyl and illegal migrants into our country," Trump stated in a social media post.
He added that the U.S. and Mexico had also agreed to pause tariffs while negotiations take place, led by Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and Commerce Secretary Howard Lutnick, along with Mexican officials.
On Saturday, Trump announced:
Trump justified the tariffs by citing border security concerns with both Mexico and Canada. In response:
Global markets tumbled following the announcement. On Monday, the Dow Jones Industrial Average dropped 500 points, reflecting investor concerns over escalating trade tensions.
Prime Minister Justin Trudeau spoke with Trump on Monday morning, with a follow-up call scheduled later that afternoon.
Following their conversation, Trump took to social media to express frustration over U.S. banks’ limited access to Canada’s financial sector.
"Canada doesn’t even allow U.S. banks to open or do business there," Trump wrote. "What’s that all about? Many such things, but it’s also a DRUG WAR, and hundreds of thousands of people have died in the U.S. from drugs pouring through the Borders of Mexico and Canada. Just spoke to Justin Trudeau. Will be speaking to him again at 3:00 p.m."
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