relenting on threats to slap potentially devastating tariffs on the neighbouring country.
“I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended,” Trump wrote on Twitter shortly after returning from a trip to Europe. The tariffs would have clobbered Mexico’s economy, which is integrated with the United States and Canada under the North American Free Trade Agreement, with experts warning of a recession and Fitch rating service already downgrading Mexico’s credit rating.
“The Governments of the United States and Mexico will work together to immediately implement a durable solution,” it said.