Mexican President Sheinbaum stated on the 31st that US President Trump’s decision to postpone imposing higher tariffs on Mexican products has "preserved" the current North American Free Trade Agreement.
Speaking at a press conference after her conversation with Trump, she said that, compared to other countries facing new US import tariffs, the Mexican government has managed to reach the best possible deal.
She said the two governments are also close to finalizing a security agreement to combat cross-border drug trafficking and prevent firearms from being smuggled from the US into Mexico.
Trump has repeatedly accused Mexico of not doing enough to stop the flow of drugs, but he wrote on his social media platform, Truth Social, that "we have agreed to extend the exact same agreement we had in place a short while ago for 90 days."
Mexican goods not included in the United States-Mexico-Canada Agreement (USMCA) currently face a 25% US tariff.
During his first term, Trump successfully pushed for a renegotiation, resulting in the USMCA taking effect in July 2020, replacing the original North American Free Trade Agreement (NAFTA). The three countries are scheduled to review the USMCA again in July next year.
In 2023, Mexico surpassed China to become the United States' largest trading partner, with over 80% of its exports going to the US.