Trump agrees to pause tariffs on Mexico

WASHINGTON (NEXSTAR) – The Mexican president announced she and President Donald Trump reached a deal to pause tariffs for a month.

President Trump announced tariffs on imports from Mexico, China and Canada.

Economists say that’ll affect the prices you pay everywhere from the grocery store to the gas pump.

“You’re going to see very, very substantial tariffs are going to be paid by them. Or they’re going to make some kind of deal,” said Trump.

Hours before new tariffs are set to take effect President Trump defended his order.

“We can’t let them take advantage of the U.S.,” said Trump.

The president announced a 10% tariff on energy imported from Canada and 25% on everything else.

10% on China and 25% tariffs on imports from Mexico but those are paused for a month, after President Trump spoke with the Mexican President Claudia Sheinbaum.

She says she had a “good conversation” with President Trump and says Mexico agreed to send 10,000 troops to the border.

The U.S. agreed to help stop the trafficking of high-powered weapons into Mexico.

“We have to stop fentanyl from coming in,” said Trump.

President Trump says he wants to make a deal with Canada and Mexico to take the tariffs away.

In the meantime, experts say Americans could pay more for groceries, computers and clothes.

They estimate cars will be $3000 more expensive and gas prices could climb 30 to 70 cents per gallon.

“The better path is to partner with Canada…not to punish us,” said Canadian Prime Minister Justin Trudeau.

President Trump says negotiations will be led by the secretaries of state, treasury and commerce.

Dow and S&P 500 are down on the news of the tariffs but have recovered slightly because of the news of the pause with Mexico.

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